Open an Account at VIALET Payment System

VIALET is a modern Lithuanian payment system with an EU e-currency license. The platform offers multi-currency accounts, fast transfers and flexible money exchange. The VIALET payment system was registered in Lithuania as electronic money (e-money) and received an official license in 2023. The idea was born from the need of small and medium-sized businesses in Europe for a transparent, fast and cost-effective payment processing system. Its founders combined the experience of the fintech and banking sectors of Lithuania, paying attention to integration with SEPA and global traditional currencies.

How the company was formed

The initiative was launched by a group of Lithuanian fintech entrepreneurs and former banking specialists who observed the growing demand for digital payment services for e-commerce, freelancers and international business in the EU. Focusing on European regulations (PSD2, AMLD), they created a platform that provides not only classic transfers, but also multi-currency payments, currency exchange and integration with online stores.

VIALET operations and functionality

1. Receiving and sending payments in euros (EUR) within SEPA: instant and standard transfers.
2. Multi-currency accounts with support for important international currencies: USD, GBP, as well as local currencies of some countries - convenience for international clients.
3. Currency conversion within the platform - automatic or manual exchange between EUR, USD, GBP at current market rates, with transparent commission.
4. API integrations, convenient plugins for e-commerce, CRM and ERP platforms - allow businesses to automatically process payments and issue invoices.
5. Issue of virtual and plastic cards - in some countries, VIALET cards are available, linked to the balance of an electronic account.
6. Risk management, AML monitoring and KYC settings – compliance with EU and Lithuanian financial regulation standards.

Clients and partners

VIALET users include online stores, freelancers, startups and small businesses that work with international clients. The platform attracts companies that value multicurrency (EUR, USD, GBP), low fees and a simple interface.

VIALET cooperates with Lithuanian correspondent banks, EM platforms and payment aggregators to ensure transaction speed and deep linking with the EU banking infrastructure. Partnerships with accounting services and SaaS solutions expand the capabilities of clients.

Advantages and challenges of the system

Advantages:

• Licensed in the EU, which increases trust and reduces regulatory risks.
• Flexibility of multicurrency settlements and conversion.
• Low and transparent tariffs.

Difficulties:

• High competition with such international players as Wise, Revolut, TransferWise, Payoneer.
• The need for strict AML/KYC compliance — constant updating of procedures.
• Undeniable dependence on correspondent banks.

Support from IT-OFFSHORE

IT-OFFSHORE provides professional support when opening an account in the VIALET payment system (Lithuania). Specialists will help at all stages — from preparing documents to gaining access to the account. Consultations cover business model analysis, KYC dossier verification and ensuring compliance with PSD2 and European legislation.

In addition, clients receive recommendations on the choice of currencies — EUR, USD, GBP — taking into account the specifics of their business, as well as cost optimization in currency transactions.

IT-OFFSHORE also provides support for technical integration (for example, connecting API), setting up business processes within the system and adapting the platform to the specific needs of the client. If necessary, specialists train the client’s employees in the basics of working with VIALET, and also help build a policy for compliance with AML and KYC requirements.