EVP International applies to become Lithuania's pioneer e-money institution

EVP International said on Wednesday that it has applied to the Bank of Lithuania for an EMI license, which will allow the company to expand its service range.

"Once we obtain an EMI license, we will be able to provide almost all conventional banking services, except to collect deposits and issue loans. Given that some of our services are already cheaper and faster than banks' services, I have no doubt that our customer base will broaden greatly," Kostas Noreika, the CEO of EVP International, which now holds the license of a payment institution, said in a press release.

The central bank said that it has recently received applications for EMI licenses from two companies.

"Two companies have applied. I believe that this will add to competition among service providers and will be helpful to customers," Vitas Vasiliauskas, the central bank's governor, said at a news conference on Wednesday.

The Bank of Lithuania's spokesman, Mindaugas Milieska, told BNS that the central bank will not name the companies until the licenses are issued. If no additional information is requested, decisions on whether or not to issue the licenses will be made within three months, he added.

EVP International currently offers basic payment services in more than 60 countries. It operates the Webtopay.com online payment system and the Gsms.lt automated online SMS service, and administers the Rinka.lt free classified advertising website.

The company has also developed the Eparasas.lt electronic document signing system and the Erinkimai.lt website, on which signatures for three referenda are currently being collected.

EVP International's net profit last year soared to 748,000 litas (EUR 216,800), up from 156,000 litas in 2010.

The media reported earlier this month that the central bank had received the first two applications for EMI licenses -- from EVP International and the mobile payments service provider Mokipay.