The Bank of Lithuania decided to grant limited activities electronic money institution licence to TEO LT, AB. The licence grants the right to issue electronic money and provide payment services set in the Article 5 of the Payments Law of the Republic of Lithuania. The purpose of obtaining this licence is intended takeover of payment activities of AB Omnitel and intended provision of instant payment services according to the provisions of the Memorandum of Understanding on the enhancement of the functionality of the Bank of Lithuania retail payment system, prepared by the Bank of Lithuania as of 1 July 2016 and joined by TEO LT, AB as of 5 July 2016.
Giedrė Kaminskaitė-Salters,
Head of Legal,
tel. +370 5 236 7715