payabl. Obtains EMI License in Cyprus

After obtaining a payment license in the UK​ last August, payabl., one of Europe's leading PayTech companies, announced that it has received an Electronic Money Institution (EMI) license from the Central Bank of Cyprus, allowing the company to expand its payment services across the European Economic Area (EEA).

Ugne Buraciene, CEO at payabl., commented: "We're poised to continue on our growth trajectory, with ambitious plans to obtain an EMI licence in the Netherlands and begin to explore other markets too. But our objectives extend beyond licences. Fundamentally, we are dedicated to creating a diverse and skilled team, who are laser-focused on providing the highest calibre of services to our customers."

Ugne further stated: "Acquiring this license also helps us to further develop our new platform, payabl.one, which aims to consolidate services for merchants and give them access to agile, personalized and innovative financial services to enable their business growth."