Lithuania is a fintech hub with one of the highest numbers of electronic money institution (EMI) licenses in Europe, and through CENTROlink — operated by the central bank, Lietuvos bankas — even non-bank payment institutions can access the SEPA payment network. Thanks to this infrastructure, account-based transfers have become just as natural a payment experience as cards, and SEPA Instant Credit Transfer (SCT Inst) processing is also becoming increasingly common. Bank transfer is one of the core payment paths in e-commerce as well.

For high-value single purchases (electronics, furniture, flight tickets, etc.) or low-margin industries burdened by high card fees, offering a bank transfer option alongside cards to Lithuanian customers is an effective setup. It also pairs well with pre-order or made-to-order products that ship only after payment is confirmed.

When a consumer sends euros (EUR) to the account provided at order time, or approves a transfer through a bank link, the order is confirmed once the deposit is confirmed. Where SEPA Instant Credit Transfer applies, the deposit can arrive within seconds. Hecto Financial receives the resulting EUR funds, converts them, and settles them to the Korean merchant in whichever currency — USD, KRW, or JPY — was set under the contract.

Integrating through Hecto Financial lets a Korean company explore bank transfer acceptance without opening a Lithuanian bank account directly. Operational burden varies depending on the transfer confirmation method (virtual account, reference number, bank link), so please confirm the support format through consultation before signing a contract.

• Merchant registration country

  Confirm whether contracting is possible for merchants registered in Korea

• Sales channels

  Integration method and priority vary depending on your online sales channel mix — owned storefront, marketplaces, mobile apps, etc.

• Product categories

  Check in advance whether your products fall under restricted categories according to the Bank transfer operator's merchant policy

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Bank transfer funds are received by Hecto Financial in euros (EUR), and after conversion, the Korean merchant is settled only in whichever currency — USD, KRW, or JPY — was set under the contract. Because transfer payments are a push method where the consumer actively sends the money, managing missing or short payments is necessary, and since EU e-commerce rules require returning funds if a consumer withdraws within 14 days, it is safer to design a refund account verification process in advance.

• Bank of Lithuania (Lietuvos bankas)Official information from the integrated supervisory authority responsible for operating Lithuania's payment systems and licensing and supervising electronic money institutions (EMIs). Where the content of this page differs from actual regulations, the official sources take precedence.