WALLESS Assisted SumUp Group in Obtaining Electronic Money License from the Bank of Lithuania
WALLESS assisted SumUp Group in setting up a subsidiary in Lithuania and obtaining an electronic money license for it.
SumUp was established in London in 2012. It was based on the idea of introducing a different kind of card acceptance services for small merchants that have been historically underserved by the traditional payment services providers. SumUp’s proprietary technology and innovative approach have made it possible for the smallest businesses to start accepting card payments. The company now operates in 31 markets including Europe, Brazil and the US, employing over 1500+ people around the world.
SumUp Group’s Lithuanian subsidiary – SumUp EU Payments UAB – will offer a card reader app allowing mobile phones and tablets to be used as payment card terminals and to accept customer payments at minimal cost. The new Lithuanian office will play an important role in developing SumUp’s business in the region.
WALLESS team advising the client involves Partner Joana Baublytė-Kulvietė, Associate Partner Lina Radavičienė and Senior Associate Simona Kišūnaitė.
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