Dear Customer,
Update 11 December, 2023
As advised on 29 November 2023, an insolvency administrator has been appointed to UAB PayrNet.
We have been made aware that creditors (including customers with a claim for return of funds) of UAB PayrNet should submit details of their claims to the insolvency administrator by Thursday 14 December 2023.
The administrator’s details can be found at https://nemokumas.avnt.lt/public/manager/edit?uuid=0a64194a-8563-1f9c-8185-6422fc280e9f.
Please see this link on the Bank of Lithuania website for more information: https://www.lb.lt/en/news/information-for-customers-of-payrnet-uab
Directors, UAB PayrNet
Previous updates
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Update, 29 November 2023
As advised back in June 2023, UAB PayrNet ceased business operations following the revocation of its licence by the Bank of Lithuania and has been taking steps to wind down the business. As the next step in the winding down process, the Vilnius District Court has made orders for the commencement of bankruptcy of UAB…
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16 October Updates
Dear Customer, This is a further update on UAB PayrNet’s (the “Company”) progress in returning safeguarded funds to customers and end-users. As at Monday 16 October 2023 the business has returned over 92% of the safeguarded funds which were held by the Company as at the date of licence revocation, meaning over EUR 107M of…
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11 September, 2023
Dear Customer, This is a further update on UAB PayrNet’s progress in returning safeguarded funds to customers and end-users. As of the end of last week (ending 8 September, 2023) the business was able to return another 8% of the safeguarded funds which were held by us as at the date of licence revocation. This…
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4th September update
We wanted to provide a further update on our programme of returning safeguarded funds to customers. As anticipated on our last update, we have managed to return the majority of e-money funds to customers by the end of August 2023, principally by means of migrating whole programmes to new service providers. By the end of…
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22 August Update
We wanted to provide you with an important update regarding the return of your funds from UAB PayrNet. As you may be aware, we recently announced our wind-down plans, including the intention to refund all customer balances by August 22nd. Although we have made good progress, a more complex reconciliation process than anticipated has taken…
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25 June Regulatory Update
Important notice to our customers, partners, and endusers in the EU/EEA UAB PayrNet: We regret to inform you that, on 22 June 2023, the Bank of Lithuania made the decision to revoke the electronic money institution license of UAB PayrNet. This means we are no longer able to provide electronic money and payment services to…