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PayRay, a Lithuanian fintech company, has now launched its banking operations after securing a banking license from the European Central Bank (ECB). The bank will soon start accepting deposits from Lithuanian customers (private individuals), which will be accepted in Euros for a period ranging from six months to five years. The deposits will take place…

In the first half of 2020, the number of payment transactions and income of electronic money and payment institutions (EMIs/PIs) has continued to grow at a rapid pace despite the pandemic. “The trends observed in the first half of the year show that the EMI/PI sector has withstood the shock of COVID-19. On top of…