The Bank of Lithuania has released new data on Payment Service Providers (PSPs) for 2025, covering both EMIs and PIs with Lithuanian licences. Justinas Badaras from PSP Circle looked at which ones had the largest payment volumes (using the BoL definition: “total amount of payment transactions initiated within the last 12 months”).
In total, there were 73 EMIs and 44 PIs (including those with restricted activity licences) licensed in Lithuania at the end of 2025. The total volume processed by EMIs and PIs reached €166bn (vs €153bn in 2024), an 8% increase. This may still change slightly, as the 2025 data is not audited yet.
Top 5 largest PSPs:
1. Paysera: €25.4bn (+2%)
2. ZEN.COM: €25.1bn (+12%)
3. Nuvei: €9.1bn (-53%)
4. Genome: €8.1bn (+18%)
5. GURU PAY: €7.3bn (+212%)
Some notes:
1. Paysera and ZEN are in a league of their own, each processing around €25bn last year.
2. The number of licences has been steadily decreasing:
* 2025: 117 (73 EMIs, 44 PIs)
* 2024: 119 (76 EMIs, 43 PIs)
* 2023: 125 (82 EMIs, 43 PIs)
* 2022: 131 (84 EMIs, 47 PIs)
3. Nium and Guru Pay posted the largest increases in the top 20, both growing over 200% year-on-year.
4. The top 20 includes a healthy mix of international companies (e.g. ZEN, Nuvei) and local players.
5. Paytend ranked 8th in 2025 but lost its licence a few weeks ago in March due to AML breaches.
6. All companies in the top 20 are EMIs (not PIs).
Justinas Badaras commented: „What we see is fewer companies, higher volumes, and some aggressive new growth stories.”
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