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Paysera gains a foothold in Albania: the company was issued an electronic money institution licence


The Central Bank of Albania has issued an electronic money institution (EMI) licence to Paysera Albania, a company of the Paysera network. Now the company will be able to provide money transfers, a payment gateway for e-stores, and other financial services in this Balkan country.

“The data of the World Bank shows that approximately 40 per cent of Albanians have a bank account. Thus, it is a wide niche for the development of e-payments and e-commerce. However, it also poses a challenge because cash payments are predominant in the country. That is why we develop our business together with local partners who are experts of their home market, understand the subtleties of their country, the culture of the people, and their behaviour. We will appeal to local clients by offering an opportunity to open accounts via the app, a good user experience (UX), and good prices,” says the co-founder and main shareholder of the fintech company Paysera LT, Kostas Noreika.

The Paysera company network is developing internationally according to the principle of joint activity, which is similar to franchising, by adding companies from different countries to the network, which are established and managed by experienced local entrepreneurs.

According to the entrepreneur who brought the Paysera brand and services to Albania and is the Head of Paysera Albania, Idlir Ahmati, the company is legally prepared to provide services in the country, has the necessary human resources, and only has to adapt the Paysera system to the local currency and accounting.

“Albanijos gyventojai ir verslas laukia didesnės konkurencijos bankiniame sektoriuje, todėl žinia apie Paysera tinklo atėjimą sutinkama šiltai. Paysera atėjimas turės milžinišką stimulą konkurencijai finansų sektoriuje bei sukurs spaudimą bankų ir kitų fintech bendrovių įkainiams. Turedami EPĮ licenciją, mes startuojame su pagrindinių paslaugų paketu. Neabejoju, kad mūsų veikla ypač sudomins emigrantų artimuosius, kurie iš užsienyje dirbančių giminaičių kasmet sulaukia 1,8-2 mlrd. Eur perlaidų įvairiomis valiutomis”, - teigia I. Ahmati.

According to I. Ahmati, the Paysera brand was already known in Albania, and approximately 1000 residents and 15 companies use a Lithuanian IBAN.

Geographical development of the Paysera network is done according to the principle of joint activity by cooperating with local partners. The activity abroad is coordinated via the Paysera LTD company registered in the United Kingdom. Currently, the network includes companies in Lithuania, Latvia, Estonia, Romania, Bulgaria, Spain, Kosovo, Ukraine, and Albania.

About Paysera

Paysera is a Lithuanian-born financial technology company providing payment gateway services and serves as an alternative to banks. In 2020, over 12,000 e-shops collected payments for online purchases through the company’s system. The fintech also provides a current account and money transfer services almost globally: EUR 4,7 billion was transferred through the company’s system and app last year. Clients of the fintech company use contactless Visa payment cards that can be linked with smart devices and used for paying via Google Pay, Apple Pay, and Samsung Pay.