Adon Legal has helped Paymont obtain an Electronic Money Institution license from the Bank of Lithuania.
According to Adon, “the newly established financial institution is authorized to issue electronic money and provide certain payment services (execution of credit transfers and payment transactions covered by a credit line, issuance of means of payment, acquiring of payment transactions and money remittance).” The firm reported that, since the owner of the institution is Czech-based Ronda Holding, Paymont will provide services to Ronda Holding’s customers at first, before expanding to the rest of the EU.
Adon’s team consisted of Partner Donatas Sliora and Junior Associate Simas Staniulis.