NEO Finance, AB (operating in the payments market under the brand name “Neopay”) announces its readiness to provide account-to-account (A2A) payment services in the Lithuanian market.
This year, payment service providers gained the opportunity to connect directly to the SEPA and central bank-operated settlement infrastructure by utilizing the SEPA Request-to-Pay (RTP) service. This enables real-time payment initiation and processing, bypassing card schemes, while the service structure allows merchants to reduce costs.
“We decided to apply directly to the European Banking Authority (EBA) in order to secure direct access and become one of the first A2A service providers in Lithuania,” said Juozas Kaminskas, Head of Administration of NEO Finance.
According to him, the expansion of A2A services could significantly reshape the payments market, providing businesses with cheaper and more efficient payment solutions, and offering consumers faster and more convenient payment experiences. It is expected that large-scale implementation of A2A services across Europe will begin in 2026.
According to the Bank of Lithuania’s Review of Electronic Money and Payment Institutions (2024), Neopay is the clear leader in the Lithuanian payment initiation service market, holding nearly 50% market share.
Head of Administration
Juozas Kaminskas
E-mail: juozas.kaminskas@neofinance.com