The Bank of Lithuania as the competent Authority in Lithuania has temporarily suspended the right of the electronic money institution MisterTango, UAB to issue electronic money and to provide parts of its services. MisterTango, UAB will only be able to provide payment services to lowest risk clients and only upon updating their KYC information. Clients holding their funds in MisterTango, UAB accounts to which the company will be prohibited to provide services will be able to apply to it for their money to be transferred to their personal accounts in banks or other credit, payment or electronic money institutions.
For further details please see the Public Note of the Bank of Lithuania dated 25.10.2019.
The Bank of Lithuania has indicated that the electronic money institution licence held by MisterTango, UAB has not been withdrawn; only the right to issue electronic money and to provide certain payment services has been suspended.
As of 20th December, 2019, the Lithuanian e-money institution “MisterTango”, UAB changed its name into “Secure Nordic Payments”, UAB.