Marius Pareščius to take care of Paysera’s development abroad

“Paysera is one of the largest companies in the Lithuanian electronic money collection, transfer, and currency conversion market, which is extremely competitive. This says a lot about the potential of the company’s solutions abroad. In some countries, the payment business is not as well developed as in Lithuania, e.g. in some Balkan countries, Georgia, Moldova. Our goal is to accelerate the export of Paysera solutions to these countries, especially since Lithuanians are well known and appreciated there,” says Pareščius, Vice President of Paysera LTD.

According to Pareščius, the global business community has realised in recent months that, during a pandemic, the Internet may become the only channel of trade and, as a result, online trade in Europe and the rest of the world is now booming. “Online commerce is flourishing, and we intend to take advantage of this by offering easily integrated payment processing and other solutions for foreign businesses,” says Pareščius.

Currently, the Paysera network consists of companies in Lithuania, Latvia, Estonia, Romania, and Bulgaria. Activities abroad are coordinated through Paysera LTD, a company registered in the United Kingdom.

Pareščius is an IT expert, businessman, startup consultant, mentor, and co-founder of one of the first dating sites in Europe, Draugas.lt.

Currently, Marius is the Executive Director of the Lithuanian Clusters Association, founder and director of other clusters, and the outgoing Vice President of the Infobalt Association. Marius is a long-term member of the IT and IT security sectors, startup work groups in Lithuania and Europe, and frequent speaker at Lithuanian and international IT conferences, sharing his experience on TV and radio programmes. In 2019, he stood as a candidate in the European Parliament elections.

According to the data of the Bank of Lithuania, at the end of the fourth quarter of 2019, the Lithuanian company Paysera LT had the largest share of the Lithuanian electronic money issuance and payment services market. Paysera LT led the way in the e-money market, beating its nearest competitor by almost four times according to the funds held by customers on the company’s accounts (over EUR 212 million). The amount of money held by clients has grown by more than 75 per cent over the year.