Paysera is turning 20 and celebrating its key achievements!

It all started in 2004 with 3 employees and a company name that we no longer use: Elektroniniai verslo projektai (Electronic business projects) and later EVP International. In 2006, we launched our very first product – a payment processing project called mokejimai.lt.

The first five years at Paysera were a whirlwind of productivity. But for an ambitious startup like ours, good was never enough. We had our sights set on much more. By 2013, marking our ninth year, we took our first bold leap across borders, officially expanding into Latvia.

Yet, that was only the beginning. In just the following year, we opened offices in Alytus and Kaunas, rebranded from www.mokejimai.lt to www.paysera.lt, and, to top it off, launched our mobile app. Yes, all of this in one year!

But we weren’t satisfied just yet. There was one more crucial piece missing: a payment card. So, we made it a priority, and by 2015, our clients were enjoying their Visa cards. That same year, we introduced a unique product – Paysera Tickets, a platform that redefined how people purchase event tickets.

The following five years were anything but quiet. Paysera evolved in multiple ways: exploring new markets, expanding our product portfolio, growing our team, and offering new integrations. And let’s not forget about the global pandemic that certainly brought new lessons of its own.

Expansion to new markets

Partnerships make us stronger and in 2016 we began one with partners in Bulgaria that helped us bring our services to the Bulgarian market. This is a partnership that we value deeply to this day.

But… a piece of the puzzle was missing – Paysera was established in only 2 out of 3 Baltic countries. This changed in 2019 when we finally entered Estonia and established a dedicated client support service there.

Then, in the same year, our partners in Romania launched their activity too. Despite the global pandemic, the Paysera company in Kosovo was granted an e-money institution licence.

Product portfolio expansion

Product innovation was going very well in this period of time. In 2016, we began offering IBAN accounts, followed by the launch of our Payment Initiation Service (PIS) in 2017. That year, we also earned the PCI DSS certification and joined the SEPA Instant payments system, finally being able to provide quicker transactions for our clients in EEA.

By 2019, we were granted the right to provide Account Information Services (AIS) and made payments via Google Pay and Samsung Pay possible.

As the company grows, so does the number of employees

From 2013 to 2017, we doubled our workforce from 50 to 100 employees. Just two years later, in 2019, we noticed an even bigger growth when we welcomed our 200th team member.

The global pandemic hits the world

And then something no one could have predicted happened – the global pandemic. This difficult situation put all businesses to the test, and Paysera was no exception. Nonetheless, our team showed remarkable resilience. They quickly adapted to remote work while staying focused on our goals, driving the company forward even during these uncertain times.

Here are a few noteworthy achievements just from the lockdown period:

• We became an official payment provider at Shopify.
• We employed artificial intelligence solutions for client identification.
• We launched gold trading via the Paysera app.
• The Paysera app became available on Apple Watch.
• We introduced our Status Page, enabling independent system checks for users.

As Paysera turned 18 in 2022, we took a moment to refine our visual identity, giving our brand a fresh look that truly reflects our journey and growth. It was time for our image to mirror the evolution of our business and the maturity we had achieved over the years.

The following year, 2023, was a landmark period of growth and recognition. We proudly received an award for the Fintech Public Vote, celebrated reaching 500 employees, and introduced a cash pick-up transfer service. We also expanded our horizons by expanding to Georgia (and with a bank licence, no less).

Now that Paysera is a strong and stable company, we can and want to be a positive force not just in our field, but beyond. This is why we chose to invest in the health of our planet and acquired solar and wind plants in Lithuania.

So this brings us to the present. The year is 2024, and it’s not over yet – we’ve already achieved quite a few major wins. You might have heard about our latest product for the Lithuanian market – Paysera POS. Paysera also won a public procurement contest to provide Lithuanian state institutions with payment collection services – this is an amazing opportunity for us and we happily accept the responsibility.

No one knows what the future will bring, and we’re not going to guess. Instead, we’ll do what we always do – offer convenient payment solutions to our clients and find new ways to innovate. Rest assured, we have exciting things planned and are excited to reflect on the next 20 years when Paysera enters its forties.

But for now… we celebrate!