Lithuania
Lithuania, in the Baltic region of Northern Europe, is known for its rich history, natural beauty, and innovative digital economy. With about 2.8 million people, its vibrant cities like Vilnius and Kaunas combine medieval charm and modern business.
Strategically located on the Baltic Sea and bordered by Latvia, Poland, Belarus, and Russia, Lithuania is a key trade hub in Europe. Its economy has rebounded strongly since the pandemic, powered by exports, IT, and advanced manufacturing.
Lithuania’s exports (goods and services) equal about 74 % of its GDP, highlighting a highly open and trade-oriented economy. Key export sectors include mineral products, machinery, and electrical equipment.
Tourism is also vital, with UNESCO sites like Vilnius’s Old Town and the Curonian Spit drawing visitors. Meanwhile, eco-tourism, wellness, and adventure trips are expanding thanks to Lithuania’s forests, lakes, and coastlines.
As an EU and eurozone member, Lithuania benefits from strong regional trade ties and infrastructure investments, including the Rail Baltica railway. It also fosters innovation with a booming start-up ecosystem and a pro-FinTech environment.
Lithuania is accelerating its green energy transition with wind and solar investments, aiming for long-term sustainability and energy security. Meanwhile, the country supports digital payments, strong online banking adoption, and FinTech innovation — making its financial ecosystem modern, efficient, and highly competitive.
Top banks
Revolut
Revolut Bank has rapidly grown to become Lithuania’s largest bank by assets, driven by its strong digital infrastructure and large customer base. After securing a Lithuanian banking license, it expanded its services quickly, attracting both residents and international clients. Its growth significantly reshaped competition in the national banking market.
Swedbank
Swedbank remains one of Lithuania’s most influential and established banks, holding a long-standing position in retail and business banking. With a wide branch network and strong digital services, it maintains significant market share in loans, deposits, and everyday banking, continuing to play a leading role in the country’s financial sector.
SEB
SEB Bankas is a major banking institution in Lithuania, widely recognized for its comprehensive financial services and strong loan portfolio. It serves both private and corporate clients, emphasizing stability, digital innovation, and long-term customer relationships. SEB is consistently among the top performers in Lithuania’s competitive banking landscape.
Luminor
Luminor Bank operates across the Baltic region and maintains a strong presence in Lithuania, offering a broad suite of financial services to individuals and businesses. Formed through a merger of major Nordic banks’ Baltic operations, it focuses on modern banking solutions, regional integration, and long-term economic development in the Baltics.
Artea
Artea Bank, previously known as Šiaulių Bankas, is one of Lithuania’s key domestically founded banks. After rebranding, it continued strengthening its position in both retail and business banking. Known for local expertise and steady growth, it remains a significant competitor among the country’s leading financial institutions.
Top payment methods
The top payment methods in Lithuania include contactless cards, mobile payments, bank transfers, and FinTech solutions like Revolut. High digital adoption drives the use of Apple Pay, Google Pay, and instant payments through banks like Paybybank and PaybyRevolut. Lithuania’s modern, secure digital payments ecosystem supports fast, convenient, and cashless transactions nationwide.
Paybybank
At checkout, when you select Pay by Bank as your online payment method, you can securely pay directly from your bank account. Simply choose your bank, which generates a secure payment link to authorize the transaction. Once authorized, you are redirected back to the checkout page. No card details, no account creation, and no personal financial information are shared, making Pay by Bank a safe, fast, and convenient online payment solution.
This digital banking payment solution is offered by PayOp, covering almost all of Europe and competing with top online payment providers in the e-commerce and fintech market.
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Pay by Revolut
Paybybank-style solution by PayOp — a next-generation payment technology revolutionizing Europe’s iGaming and fintech sectors since early 2025. Faster than traditional gateways and built before Revolut, it offers instant, secure bank payments that boost conversion and trust. Stay ahead of the trend—integrate now! Fill out the Contact Us form below.
Concluding remarks
Cash
Cash usage in Lithuania continues to decline but remains relevant for small purchases, rural communities, and older demographics. Despite the rise of digital payments, contactless cards, and mobile wallet solutions, cash still plays a role in daily transactions, especially in areas with limited access to digital banking or payment infrastructure.
Cards
Cards—especially contactless bank cards—are the primary payment method in Lithuania, driven by the country’s strong digital payments adoption, wide POS terminal availability, and growing preference for fast, secure, and cashless transactions. Debit and credit card payments dominate everyday spending across both urban and rural areas.
Cryptocurrency
Meanwhile, cryptocurrency adoption in Lithuania is growing steadily, fueled by tech-savvy users, blockchain enthusiasts, and the country’s robust FinTech ecosystem. Digital currencies, including Bitcoin and Ethereum, are increasingly accepted by online merchants and payment platforms, reflecting Lithuania’s position as a leading hub for cryptocurrency, blockchain innovation, and digital finance in the Baltics.
About Processing News
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