Based in Lithuania, Paysera has made history by becoming the first electronic money institution (EMI) in Europe to gain direct participant status within the European Central Bank’s (ECB) T2 settlement system.
Serving as a crucial component of the Eurosystem for large-value EUR payments, the T2 system handles transactions worth over two trillion Euros daily. Previously, access was limited to central and commercial banks, central securities depositories, national EU treasuries, and other designated financial market infrastructures. EMIs had to route their transactions through intermediary banks to participate in this system.
Regulatory Shift Enables New Access
The change in access rules was enabled by the implementation of EU Regulation 2024/886, which took effect in October 2025. This regulation extended direct access rights to non-bank financial institutions like Paysera. After thorough assessments conducted by both the ECB and the Bank of Lithuania, Paysera successfully integrated into T2.
With direct participation in T2, Paysera can now independently manage its payment flows within the Eurosystem, conduct real-time interbank transactions, and facilitate payments beyond the eurozone and SEPA region. The company will operate on par with large commercial banks, eliminating dependency on third-party institutions for settlement.
In 2025, Paysera processed a significant volume of transfers totaling EUR 23.3 billion, including 27.6 million transactions year-over-year, with an increase of 19%. Of these, 82% were conducted via SEPA Instant. Currently, the company processes around 188,000 annual transactions through the T2 system, and direct access is expected to reduce latency and operational overhead.
CEO’s Perspective on New Status
According to Paysera’s CEO, gaining direct access to T2 will enable the company to offer services with the same speed, reach, and security as major financial institutions but at a lower cost for clients. This positions Paysera as a competitive alternative to traditional banking providers.
Strategic Significance for EMIs
Paysera’s entry into T2 reflects the growing maturity of non-bank payment providers and the regulatory landscape that now allows them to compete directly with licensed banks in clearing and settlement. With a strong presence of fintech companies in Lithuania, Paysera’s achievement adds credibility to the country as a hub for financial technology innovation. This precedent could encourage other EMIs to pursue similar access levels as EU regulations continue to evolve.
