Draft:PAYSTRAX
Submission declined on 27 July 2026 by Theroadislong (talk). This draft's references do not show that the subject meets Wikipedia's criteria for inclusion for organizations and companies. The draft requires multiple published secondary sources that:
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Comment: just blatant advertising and Wikipedia cannot be used as a source Theroadislong (talk) 15:11, 27 July 2026 (UTC)
- Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. DoviFintech (talk) 14:23, 27 July 2026 (UTC)
About PAYSTRAX
[edit]PAYSTRAX is a private financial technology company specialising in payment processing and card acquiring services for businesses. Founded in 2018 and headquartered in Vilnius, Lithuania, the company provides payment infrastructure for merchants across the European Economic Area (EEA) and the United Kingdom. Its services include online payment gateways, point-of-sale (POS) systems, and multi-currency transaction processing, with a focus on compliance, risk management, and support for regulated or high-risk industries.
History
[edit]PAYSTRAX was founded in 2018 in Lithuania by Jóhannes Ingi Kolbeinsson, who acts as Group Chief Executive Officer, and Gunnar Már Gunnarsson, who acts as Group Chief Technology Officer. Following its establishment, the company opened offices in Vilnius, Lithuania, and Reykjavík, Iceland, after acquiring a Payment Institution (PI) licence from the Bank of Lithuania.[1]
The company subsequently obtained principal membership with major card networks, including Visa[2] and Mastercard[3].
In its early years, PAYSTRAX focused on developing its operational infrastructure, regulatory framework, and internal processes. By 2021, the company had established its core structure and began offering payment acquiring services, onboarding its first merchants and entering the European acquiring market.[4]
In 2022, PAYSTRAX expanded its international presence by opening additional offices in Brighton, United Kingdom, and Klaipėda, Lithuania.[5]
In 2023, the company obtained authorisation from the United Kingdom’s Financial Conduct Authority (FCA)[6] as a Payment Institution[7], enabling it to provide regulated payment services in the UK market and further expand its operations.
In 2025, PAYSTRAX acquired Nochex, a UK-based payment service provider, adding Nochex's payment gateway and merchant infrastructure to its operations in the United Kingdom.[8]
In 2026, the company relocated its Brighton office to London.[9]
Products & services
[edit]Online payment gateway
PAYSTRAX provides online payment gateway solutions that enable merchants to accept Visa and Mastercard card payments through e-commerce platforms and virtual terminals. The company supports integrations with third-party gateway providers, including ACI Worldwide[10] and Cardstream[11], facilitating transaction routing, payment processing, and system interoperability.
Point-of-sale (POS) solutions
The company offers point-of-sale (POS) systems for in-person payments, allowing merchants to accept chip, contactless, and mobile-based transactions. These systems are integrated with PAYSTRAX’s acquiring infrastructure to support retail and hospitality environments.[12]
Multi-currency settlements
PAYSTRAX provides multi-currency settlement capabilities, enabling merchants to receive funds in multiple currencies. The platform supports the processing and settlement of cross-border transactions, allowing businesses to manage international payments and reduce the need for currency conversion through external providers.[13]
Settlement solutions (including stablecoins)
The company provides settlement services in multiple currencies, including both fiat currencies and, where supported, digital assets such as stablecoins[14]. [15]
Digital wallet acceptance
PAYSTRAX enables merchants to accept payments via digital wallets, including Apple Pay and Google Pay. These solutions support tokenised transactions and mobile-based payment methods.[16]
Mastercard Send and Visa Direct
The company supports real-time and near real-time fund transfers through integrations with services such as Mastercard Send and Visa Direct.[17]
Fraud prevention and chargeback management
PAYSTRAX provides tools for fraud detection, transaction monitoring, and chargeback management. These tools are designed to help merchants mitigate risk, reduce fraudulent activity, and manage payment disputes as part of a broader compliance framework.[18]
PARTNERSHIPS
PAYSTRAX has established partnerships with payment technology, compliance, and infrastructure providers to support its acquiring and payment processing services.
In 2021, the company partnered with Handpoint, a point-of-sale (POS) solutions provider, to expand its in-person payment capabilities.[19]
In 2022, PAYSTRAX became an official United Nations Global Compact[20] member and commits to share yearly communication on progress reports.[21]
In 2023, PAYSTRAX partnered with DisputeHelp. In the same year, it also partnered with VikingCloud[22], a cybersecurity and compliance solutions provider.
In 2024, the company partnered with UK-based payment gateway provider Cardstream[23].
In 2025, PAYSTRAX partnered with Akurateco, a white-label payment software provider, to expand payment orchestration capabilities.[13]
Acquisitions
[edit]In 2025, PAYSTRAX acquired UK-based payment service provider Nochex. The acquisition provided access to an established customer base and payment gateway infrastructure.[24]
Awards & recognition
[edit]2023: PAYSTRAX was awarded Best Bank for Acquiring Services in Lithuania at the Global Payments Innovation Awards, organised by The Digital Banker. [25]
2024: PAYSTRAX received Company of the Year award at the Lithuanian Fintech Awards organised by Rockit.[26]
Same year at the PayTech Awards, the company received Best New Payments Brand award.[27]
2025: At the eCommerce awards PAYSTRAX received bronze in Best eCommerce Payment Solution category.[28]
2026: PAYSTRAX was included in the Financial Times FT1000 list of Europe’s fastest-growing companies, where it ranked 148th.[29]
References
[edit]- ^ "Bank of Lithuania, Financial Market Participants". Bank of Lithuania.
- ^ "Visa Inc.", Wikipedia, 2026-07-22, retrieved 2026-07-27
- ^ "Mastercard", Wikipedia, 2026-07-27, retrieved 2026-07-27
- ^ "Agora Pay, PAYSTRAX partner to launch new payment acceptance solution in Hungary". The Paypers.
- ^ "Klaipėdoje kuriasi viena pirmųjų fintech įmonių". Klaipeda.lt.
- ^ "Financial Conduct Authority", Wikipedia, 2026-07-26, retrieved 2026-07-27
- ^ "PAYSTRAX LTD". Register FCA.
- ^ "PAYSTRAX acquires Nochex| The Paypers". thepaypers.com. Retrieved 2026-07-27.
- ^ "PAYSTRAX acquires Nochex to strengthen presence in the UK". The Paypers.
- ^ "Doing payments better, quicker, and at scale". ACI Worldwide.
- ^ "AYSTRAX partners with Cardstream to offer global payments solution for merchants". Cardstream.
- ^ "Payment Processing Fintech Paystrax to Double Headcount in Lithuania". FintechBaltic.
- ^ a b "Akurateco partners with PAYSTRAX to expand European payment capabilities". The Paypers.
- ^ "Stablecoin", Wikipedia, 2026-07-24, retrieved 2026-07-27
- ^ "Akurateco partners with PAYSTRAX to expand European payment capabilities". The Paypers.
- ^ "PAYSTRAX's growth relies on values and dependable partnerships". Mano Bank.
- ^ "PAYSTRAX expands settlement flexibility for complex international businesses". iGamingBusiness.
- ^ "PAYSTRAX Leverages Alerts from DisputeHelp to Reduce Chargebacks and Boost Acceptance". DisputeHelp.
- ^ "PAYSTRAX partners with Handpoint to offer outstanding payment solutions across Europe". https://www.einpresswire.com/.
{{cite web}}: External link in|website= - ^ "United Nations Global Compact", Wikipedia, 2026-07-25, retrieved 2026-07-27
- ^ "UN Global Compact". unglobalcompact.org.
- ^ "PAYSTRAX Selects VikingCloud's Patented Web Risk Monitoring to Mitigate Merchant Fraud". ffnews.com.
- ^ "PAYSTRAX partners with Cardstream to offer global payments solution for merchants". business-money.com.
- ^ "Paystrax acquires UK EMI Nochex to boost market expansion". www.fintechfutures.com.
- ^ "Best Bank for Acquiring Services in Lithuania (Country, Regional, Global)". thedigitalbanker.com.
- ^ "Lithuania's best fintech companies selected, fintech map of the country unveiled". https://nordicfintechmagazine.com/.
{{cite web}}: External link in|website= - ^ "Best New Payments Brand | Congratulations to all the 2024 PayTech Awards Winners and Highly Commended". informaconnect.com.
- ^ "Best eCommerce Payment Solution". https://ecommerceawards.london/.
{{cite web}}: External link in|website= - ^ "FT1000: Europe's Fastest-Growing Companies 2026 ranking". www.ft.com.
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