WALLESS Assisted Simplex in Receiving E-money Licence from the Bank of Lithuania

WALLESS long-standing client Simplex received an e-money license from the Bank of Lithuania. WALLESS team advising Simplex on licensing and other on-going matters. Israeli based Simplex was one of the first fintech companies to set up in Lithuania and obtained its payment institution license in 2017. Simplex processes credit card payments with a 100% guarantee which ensures that in the event of a fraud chargeback the merchant receives payment from Simplex. The company’s cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and allows legitimate users to complete payments with ease. E-money license allows Simplex to broaden its products offering.