The Bank of Lithuania has announced the issuance of two new licences. One of them is a payment institution licence, which was granted to Autopay Europe. Readers of cashless.pl are familiar with Autopay, because it is a company owned by Blue Media, a company from the Tricity region, which offers a payment system for driving on motorways in Poland. According to information from the Bank of Lithuania, Autopay Europe, on the basis of a consent just received, may provide payment initiation services and obtain data from the bank accounts of its customers.
See also: Doconomy in Poland
Moreover, according to the Lithuanian central bank's announcement, Autopay Europe intends to provide its services in several European markets, namely Lithuania, Germany, Latvia, Estonia, Poland, Spain and the Czech Republic.
The fact that Autopay wants to expand outside of Poland was not a special secret, as the company's representatives declared it many times in the past. However, the Bank of Lithuania's announcement reveals the countries where the Polish fintech's services can be expected in the near future.
Let me remind you that Autopay is primarily a mobile application that allows you to add your car registration number and payment card. Cameras on motorway gates recognise the car and automatically raise the barriers, and the payment is charged to the account of the associated card. Autopay also allows you to pay for parking at selected locations or use car washes.
However, the Bank of Lithuania's just-published communiqué announces that yet another licence has been granted to an entity operating on the Polish market. This is an Israeli company Nayax, which provides various technological solutions based on payment terminals. Nayax already had an e-money institution licence issued in Lithuania, but has now obtained its extension. As a result, it will be able to issue and exchange payment instruments such as cards, or process payments, among other things.