The instant payments platform developed by the largest Lithuanian telecommunications companies will connect to the new generation retail payment system CENTROlink developed by the Bank of Lithuania. The latter functional capabilities will ensure the operation of a small-scale payment platform 24 hours a day, 7 days a week. The platform, which is being developed by the mobile operator Bitė, "Tele2"Mobilūs mokejimai", a company jointly managed by Telia Lietuva, will start operating in the first half of next year.
"The mobile payment system will become the smartest payment method in Lithuania and will be perfectly compatible with many other smart services that we already offer and will create for our customers in the future," says Pranas Kuisys, executive director of Bitė Lietuva.
"The instant payment system being developed is unique in Lithuania and will be one of the first payment systems of this type in the world. The mobile payment platform will allow us to continue providing modern, high-quality services, and it will allow our customers to save money when paying for goods and services," says Petras Masiulis, CEO of Tele2.
"There are more smartphones in Lithuania than the population, so the instant payment system that will be launched next year will make it even easier to use technology for the majority of society. Mobile payments will allow you to quickly and conveniently pay for goods and services using just a smartphone. The new payment system will not only change residents' payment habits, but will also give business an advantage," says Kęstutis Šliužas, head of Telia Lietuva.
The small-scale payment service for mobile users will operate under the MoQ brand in the market.
In May of this year, the Bank of Lithuania granted the company "Mobilūs mokejimai" a limited activity license of an electronic money institution, which is required to carry out activities related to instant payments. In July, mobile operators received permission from the European Commission to jointly create a common platform for the provision of mobile payment services.
Instant payments will allow mobile users to pay for goods and services at various points of sale using their mobile phone and make instant money transfers between them at any time of the day, even on holidays and rest days.
prepared according to the press release
