Latvijas Banka is issuing an electronic money institution operating licence to SIA MOIN Payments

On 8 July, the Supervision Committee of Latvijas Banka issued a licence to SIA MOIN Payments, allowing it to operate as an electronic money institution with the right to additionally provide a payment service – money remittance services.

12 licensed and 1 registered electronic money institutions, as well as 10 licensed payment institutions currently operate in Latvia. The number of electronic money institutions and payment institutions in Latvia is gradually increasing. This year, Latvijas Banka has already issued four electronic money institution licences and five payment institution licence, while in 2025, three companies received electronic money institution licences.

Companies seeking a licence from Latvijas Banka are encouraged to follow the licensing guides prepared by Latvijas Banka. These guides provide detailed information on the licensing process and requirements, including the documents to be drawn up and submitted to Latvijas Banka, the application review deadlines, among other details.

To ensure a smooth licensing process, Latvijas Banka encourages companies to take advantage of pre-licensing consultations. During these consultations, Latvijas Banka's experts offer guidance to companies on the applicable legal framework and conduct an initial assessment of the company's compliance with regulatory requirements. Collaboration during the pre-licensing stage helps companies prepare high-quality licence applications. Consultation requests can be submitted via Latvijas Banka's website.

Source: Latvijas Banka