Lithuanian Fintech Faces International Transfer Disruptions, Citing Partner Network Review
VILNIUS – International money transfers via Lithuanian fintech company, potentially impacting customers globally, have been temporarily restricted due to a review of its international partner network, the company confirmed. While transfers in US dollars to countries outside the European union (EU) and European Economic Area (EEA) are currently unavailable, services within the EU/EEA remain operational.
The disruptions, affecting transfers in currencies including Czech crowns, Indian rupees, and Australian dollars, stem from a need to ensure “long-term and stable service provision,” according to spokesperson Deimantas Mažuolis.”This is related to changes in the network of our international partners serving these transfers. In order to ensure long-term and stable service provision, we are currently reviewing partnerships. This is a common practice in the financial sector to adapt to the constantly changing requirements of suppliers and customer needs,” Mažuolis stated.
The company asserts that the “absolute majority of transfers in various currencies” are proceeding normally, citing continued service to countries like the United Arab Emirates in euros. Customers impacted by the changes were initially notified on September 25th via email, notably those actively using the affected currency transfer services.
“We are making every effort to resume normal service,” Mažuolis added, promising ongoing updates to customers as new information becomes available.
