“Can a Lithuanian EMI become the default white-label embedded finance backbone for European SaaS platforms and marketplaces?”
Founded 2017 as a Lithuanian EMI for online businesses, ConnectPay has evolved from a pure payment-account provider into a modular Banking-as-a-Service platform for European SaaS platforms, marketplaces, and fintechs. The company now bundles multi-currency IBANs, SEPA/SWIFT rails, VISA issuing/acquiring, PSD2 open banking, and embedded compliance under its own EMI license — competing with Solarisbank, Swan, and Modulr in EU embedded finance.
ConnectPay discloses ConnectPay (in-house) as its banking provider, according to the Embedded Finance Index 2026.
ConnectPay does not disclose a bank charter of its own; its banking services are provided through ConnectPay (in-house).
ConnectPay processes payments through ConnectPay Card Acquiring (in-house) and ConnectPay Online Payment Acceptance (in-house). Disclosed money-movement rails: SWIFT, SEPA Instant and SEPA.
ConnectPay's cards are issued through ConnectPay (in-house, VISA principal/issuer).
ConnectPay's lending and capital products are provided by Softloans.
ConnectPay connects to bank accounts through Salt Edge and ConnectPay PSD2 APIs (in-house AIS/PIS).
ConnectPay uses ConnectPay (in-house SWIFT/FX, 80+ currencies) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 8 layers in ConnectPay's stack: Payments / PSP (ConnectPay Card Acquiring (in-house) and ConnectPay Online Payment Acceptance (in-house)); Money movement (SWIFT, SEPA Instant and SEPA); Banking / BaaS (ConnectPay (in-house)); Card issuing (ConnectPay (in-house, VISA principal/issuer)); Lending (Softloans, Embedded lending platform (white-label), Revenue-based financing for e-commerce merchants (via Softloans) and Alternative financing solutions (invoice factoring, crowdfunding enablement)); Open banking (Salt Edge and ConnectPay PSD2 APIs (in-house AIS/PIS)); FX & payouts (ConnectPay (in-house SWIFT/FX, 80+ currencies)); Spend / AP (ConnectPay Business Debit Cards (in-house)).
ConnectPay is founded in 2017 and headquartered in Vilnius, Lithuania.
Get a read on where your own stack stands against ConnectPay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.