EN
A professional website, a European address, and the word “regulated” do not prove that a payment provider itself holds a financial licence. Some companies operate under their own authorisation. Others act as agents or intermediaries of another regulated institution. Fraudsters may also copy the legal name or licence details of a genuine company. Before sharing corporate documents or transferring funds, a business should verify who is actually providing the financial service.
Start with the provider’s legal name, not its brand. The website or client agreement should identify:
A company registration or VAT number only confirms that the legal entity exists. It does not prove that it is authorised to provide payment services.
The provider should appear in the public register of its national financial regulator.
For Lithuanian institutions, this can be checked through the Bank of Lithuania’s register of financial market participants. The European Banking Authority also maintains a central register of authorised Payment Institutions and Electronic Money Institutions across the EU and EEA.
The register should confirm:
Use the regulator’s register as the main source. A licence certificate displayed on the provider’s website may be outdated or used without context.
Not every fintech platform is itself an Electronic Money Institution. The company may be an EMI, a Payment Institution, or an agent of another licensed provider. This is not necessarily a problem, but the client should know which institution holds the licence and is responsible for the regulated service. General statements such as “EU regulated” or “licensed in Europe” are not enough. The exact legal entity and regulator should be clearly named.
A financial licence does not permit a provider to offer every type of financial product.
The services advertised on the website should match the permissions shown in the official register. An EMI licence, for example, is not a banking licence and should not be presented as permission to accept bank deposits, provide unrestricted lending, or offer investment services. The licence should also be current. It may have been restricted, suspended, surrendered, or revoked after it was originally issued. Check the regulator’s website for the latest status and any public notices affecting the institution.
Fraudsters may use the name and licence details of a genuine provider while communicating through a different website, email address, or payment account.
Compare the official register entry with:
Any mismatch should be clarified before documents or funds are shared.
A licence confirms that an institution operates within a regulated framework. It does not mean that the provider is a bank, that every advertised service is authorised, or that every client and transaction will be accepted. For business clients, the key principle is simple: the company’s legal identity, licence, authorised services, and contact details should be easy to verify through official sources.
Paylar is a Lithuanian Electronic Money Institution licensed and supervised by the Bank of Lithuania.
Paylar provides European business accounts with Lithuanian IBANs for companies managing operational EUR payments across the SEPA area. Its legal entity, regulatory status, and authorised services can be checked through the official public registers of the Bank of Lithuania and the European Banking Authority.