Lithuanian fintech Paysera expands to Spain in a partnership with a gold trade network

The Lithuanian-born e-payment network Paysera has announced its expansion to Spain, where the company was established in the city of Valencia. 
Paysera, the payment processor of the majority of Baltic e-shops, is starting its business in Spain with local partners, the owners of the gold retailer Quick Gold – Spanish businessmen who are starting to provide Paysera services under a joint activity agreement.

Quick Gold has a gold trade network stretching through more than 20 cities in Spain and consisting of almost 40 points-of-sale. 

„We, as a fintech company, already have clients in Spain. However, the start of our physical business will enhance our position in one of the largest economies in Europe, where, just like in other countries, e-commerce and e-payments are rapidly growing.

Thus, this is an excellent time for our start in Spain together with local partners who know the needs, habits, and culture of the local businesses and residents best,” said Kostas Noreika, the main shareholder of Paysera LT.

According to Rodrigo Fernández, the head of Paysera España, its firm will provide digital financial services.

Once the pandemic is over, Quick Gold client service centers will also offer some of the live services of Paysera; collection of Paysera Visa cards, client registration, withdrawal of cash, and gold trading.

“We are glad to have been able to attract a reliable and profitable financial partner to Spain, who has been in the e-payment business for 17 years and knows well how to operate in a competitive environment, which is exactly what the Spanish market is.

For Spanish businesses, and first of all e-shops, we will offer convenient and competitive processing of online payments. Moreover, we believe that local clients will be interested in the app for managing their personal and business finances, low rates for international transfers, and the self-service event ticketing system,” said R. Fernández.

Companies of the network operate in Latvia, Estonia, Romania, Bulgaria, Kosovo, Albania, and Ukraine. Paysera is focusing on its expansion in the Balkans and is searching for partners in Turkey, South America, and other countries.

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The main activity of Paysera is the processing of payments in online shops. In 2020, over 12,000 e-shops collected payments for online purchases through the company’s system and buyers spent over EUR 580 million when shopping in them.

The payment network also provides a current account and money transfer services as an alternative to banks almost globally: EUR 4,7 billion was transferred through the company’s system and app last year.

Clients of the fintech company use contactless Paysera Visa payment cards that can be linked with smart devices and used for paying via Google Pay, Apple Pay, and Samsung Pay.