“Can a Lithuania-based EMI become the preferred full-stack payment infrastructure layer for European fintechs and high-risk/complex merchants by owning direct Visa/Mastercard principal membership, SEPA rails, and card issuance in-house?”
Vialet (operating as UAB "Via Payments") is a Lithuania-based EU-authorized Electronic Money Institution that has evolved from a payment account provider into a full-stack payment infrastructure company. It achieved Principal Member status with both Visa and Mastercard, enabling self-operated card issuance and direct acquiring without third-party aggregators. It expanded into open banking (A2A payments via SEPA Instant), multi-currency FX, and virtual corporate card issuance, positioning itself as an embedded payment infrastructure layer for fintechs, e-commerce merchants, and regulated enterprises across the EU/EEA.
Vialet discloses UAB "Via Payments" (in-house) as its banking provider, with Moorwand as its sponsor bank, according to the Embedded Finance Index 2026.
Vialet does not disclose a bank charter of its own; its banking services are provided through Moorwand.
Vialet processes payments through Vialet Card Acquiring (self-operated) and Vialet Merchant Account (self-operated). Disclosed money-movement rails: SEPA.
Vialet's cards are issued through Moorwand.
Vialet uses Vialet (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 6 layers in Vialet's stack: Payments / PSP (Vialet Card Acquiring (self-operated) and Vialet Merchant Account (self-operated)); Money movement (SEPA); Banking / BaaS (UAB "Via Payments" (in-house)); Card issuing (Moorwand); Sponsor bank (Moorwand); FX & payouts (Vialet (self-operated)).
Vialet is headquartered in Vilnius, Lithuania.
Get a read on where your own stack stands against Vialet 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.