Google’s ambition to become a payment service provider has received a boost with the granting of an e-money license by the government of Lithuania.
Google Payment, a unit of Alphabet Inc obtained the license from the board of the Bank of Lithuania to paving the way for Google to process payments, issue e-money, and handle electronic money wallets. The license also enables it to operate throughout the European Union (EU).
“We are constantly working to support our customers in Europe,” says a statement from Google, “We have applied for a Payment License in Lithuania as part of these efforts, in addition to ongoing discussions relating to projects all around Europe.”
Google is also believed to be considering the African payment space which has also informed its increased investment on the continent. The company also has ongoing collaboration with some Nigeria tech startups providing payment services.
