Vialet
“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.