Multipass is a financial services provider offering global business accounts, multi-currency payments, and cross-border transaction solutions.
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Money Transfer
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Lithuania · Payment institution
Money transfer software for Lithuanian payment institutions
A payment institution moves money but cannot hold it as stored value. Run your corridors, FX and payouts on a platform that treats every balance as funds in transit and keeps the payer and payee data each transfer has to carry.
- Remittances and B2B payouts
- SEPA, SEPA Instant and SWIFT
- FX margins in price lists
- Batch payouts with approvals
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What a Lithuanian PI can run on the platform
Consumer remittances
Customers send money from the app to family or suppliers abroad, with the fee and exchange rate shown before they confirm.
Payouts for platforms and marketplaces
Upload a payout file or call the API. Batches go through an approval step before they are released, and each line posts to the ledger on its own.
Payment accounts for senders
Payment accounts with IBANs for regular senders and business clients, used to execute transfers. Funds are held only for that purpose, never as e-money.
Currency exchange inside the transfer
Convert at the moment of sending, with spreads and fees per corridor and client group set in price lists, not hard-coded.
Saved recipients and templates
Counterparties, transfer templates and BIC lookup, so repeat payments to the same beneficiary take a few taps.
What this licence does not cover
- Issuing e-money or prepaid stored value. A PI can only hold customer funds to execute payment transactions.
- Accepting deposits or paying interest on balances.
- Granting credit beyond the short-term credit PSD2 allows alongside payment services, and never out of customer funds.
What the regulator asks about your IT
Each requirement, what the platform gives you for it and who owns it after launch.
A description of each payment service the platform runs for you, so the services list in your file matches the capital you hold.
You, with your lawyersFunds in transit tracked per customer and per transfer, with exports to reconcile against your safeguarding account.
Your finance team, on platform dataName, account and address fields captured at onboarding and attached to outgoing transfers, with checks on incoming data.
SharedClient limits per corridor and client type, onboarding questionnaires and transfer exports for your transaction monitoring and sanctions tools.
Your MLROSEPA Instant flows and the name and IBAN data the payee check needs.
You, with your rails providerService description, subcontractor list, audit and access rights, and exit support for your outsourcing policy and register of information.
You, with our inputRecovery set-up, backups and our incident process, so a transfer stuck mid-route can be traced and completed or returned.
Shared
Payment rails and providers
Rails your customers can use
SEPA Credit TransferSEPA InstantSWIFTInternal transfers
CENTROlink (Bank of Lithuania)
Payment system of the Bank of Lithuania through which EEA-licensed payment institutions reach SEPA. Crassula's CENTROlink connector handles EUR accounts, IBAN generation and SEPA credit transfers.
24/7
real-time processing, no batch window
60+
payment and provider integrations connected
150+
companies run on Crassula
15+
languages the platform speaks
Dates to plan around
Rules that change what you have to build, in the order they apply.
30 Dec 2024
The recast Transfer of Funds Regulation applies. Every transfer you send must carry payer and payee information, and you must check what arrives.
9 Oct 2025
Verification of Payee is in force. Payment institutions in the euro area, Lithuania included, must check the payee name for the payer on every euro credit transfer, not only instant ones.
9 Apr 2027
Payment institutions that offer euro credit transfers must send and receive them instantly.
10 Jul 2027
The EU Anti-Money Laundering Regulation applies, including new customer due diligence rules for occasional transfers.
Around 2028
PSD3 is expected to apply, merging the PI and EMI regimes into one. Existing Lithuanian PIs will need to show they meet the new rules to keep their authorisation.
Applying to the Bank of Lithuania for a PI licence? Name us in your file.
A money transfer business is judged on how it controls each transfer from the sender's money to the payout. We give you a running platform to show the Bank of Lithuania and write the technical sections of the file with you.
01
A platform you can demonstrate
A configured environment to show the regulator, not slides.
02
The technical part of your application, prepared
IT systems, payment flows, ICT risk under DORA, outsourcing and continuity sections of your Bank of Lithuania file.
03
Providers lined up
CENTROlink for SEPA, plus banking, safeguarding and KYC providers from our network, matched to your licence.
Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
How a launch usually runs
Imagine a team planning a remittance service for workers in Lithuania who send money home to Ukraine and Georgia. They apply for a Bank of Lithuania PI licence covering money remittance and payment accounts, and use our environment to show how a transfer is captured, checked, converted and paid out.
After authorisation, euro transfers inside SEPA go out from day one, and SWIFT corridors open through a connected provider once its onboarding is done. Business clients upload weekly payout files, and the compliance team reviews any transfer above the limits set for each corridor.
Background reading: the Lithuania PI licence guide and the PSD3 and PSR guide.
Read the licence guides
FAQ
It depends on the services. Money remittance alone needs EUR 20,000, payment initiation EUR 50,000, and EUR 125,000 applies once you run payment accounts, execute transfers from them, issue payment instruments or acquire. Our Lithuania PI guide sets out the tiers.
Only as funds held to execute payments. A PI cannot issue e-money, so long-lived stored balances need an EMI licence. The platform separates funds in transit from what a customer has asked to pay out.
If you offer euro credit transfers, yes: from 9 April 2027 payment institutions must send and receive them instantly. Verification of Payee already applies: since 9 October 2025 payers get a payee name check before they confirm any euro credit transfer, instant or not.
SEPA covers euro payments across the EEA and beyond. Other currencies and countries go over SWIFT through a connected provider, and the corridors you open are your decision under your AML risk assessment.
PSD3 brings payment and e-money institutions under one regime. Lithuanian PIs keep operating during the transition period, as long as they show the Bank of Lithuania that they meet the new requirements. We follow the technical changes, such as payee checks on all credit transfers, on the platform side.
Yes, after passport notifications through the Bank of Lithuania. A small payment institution cannot passport, so cross-border remittance plans need a full PI licence.
