Key Data

• Trading Name: Paysera
• Legal Entity: Paysera LT
  PAYSERA LTD
• Activities: financial and related services worldwide.
• Location: Lithuania
• Regulations: licensed electronic money institution (EMI) in Lithuania
• Key People: Kostas Noreika (Linkedin) and Idlir Ahmati (Linkedin)

Paysera is a FinTech company based in Lithuania that offers financial and related services worldwide.

Founded in 2004 Kostas Noreika (Linkedin) and Idlir Ahmati (Linkedin), Paysera is a licensed electronic money institution (EMI) in Lithuania, with 300 employees in 15 different cities worldwide.

Offering

The platform allows to receive money and especially gives the possibility to exchange with other e-currencies (Payza, Paypal …) or receive money directly to his bank account.

With a Paysera IBAN account it is possible, for example, to transfer money in many different currencies around the world.

Paysera is also suitable for private individuals, but is mainly aimed at entrepreneurs and business customers.

A contactless debit card can be linked to the account, and there is no limit on transfers (after identity verification). The card account is separate from the main account.

The Paysera app provides all essential services – from transfers to currency exchange – at the touch of a button. Other features of the app include a separate account for savings, the “split bill” function, money requests, payments with QR codes.

The Paysera business account can be opened online without filling out any paperwork.

Reviews

The company is repeatedly accused of freezing accounts for no specific reason, establishing arbitrary KYC processes, and providing poor customer service.

In August 2022, it became known that Paysera had a huge data leak in its systems, resulting in mysterious payments from users’ accounts that they themselves had not made.

Conclusion

Due to the poor customer reviews as well as the lack of disclosure of the many legal entities and the data leak, we put the company on our “Red Compliance” list.