Google gets e-money licence in Lithuania

Google Payment is coming to Lithuania to ease payment and transaction services.

Google glass house | aaj.tv

Internet giant Google has obtained a pan-European e-money licence from the Lithuanian central bank.

Verdict reports that "the licence will enable Google Payment Lithuania to issue and redeem electronic money as well as offer payment services."

Marius Jurgilas, Bank of Lithuania board member was quoted as saying: “The end of this year reflects our efforts and experience of the past few years in actively developing a FinTech-conducive ecosystem in Lithuania.

“Our regulatory environment and the benefits it offers have been acknowledged by both start ups and world-class FinTech companies.”

"With the inclusion of Google to its roster, Lithuania has over 100 licenced firms. Several of these firms are engaged in payments, electronic money issuance as well as P2P lending."

Google Payment Lithuania  now forms part of Alphabet. 

Alphabet Inc. is an American multinational conglomerate headquartered in Mountain View, California. It was created through a corporate restructuring of Google on October 2, 2015, and became the parent company of Google and several former Google subsidiaries.