PAYSTRAX to create up to 150 new fintech jobs in Lithuania as it scales operations across Vilnius and Klaipėda

PAYSTRAX, an international payment acquiring company headquartered in Vilnius, is accelerating its growth in Lithuania. The company plans to hire up to 75 new specialists in 2026 and bring on up to 150 new employees over the next three years. Founded in Lithuania by two Icelandic entrepreneurs in 2018, PAYSTRAX has grown from a startup to an established payments provider with more than 150 employees across six European offices. 

The expansion will span both of PAYSTRAX’s Lithuanian locations – in Vilnius and Klaipėda – and will focus on strengthening the company’s IT, finance, marketing, account management, operations, and onboarding capabilities. In Klaipėda, PAYSTRAX has already moved into larger premises, and in Vilnius it added a second floor at its office to accommodate the growing team. 

According to the company’s leadership, Lithuania’s highly educated workforce, strong English proficiency, and dedicated work culture have been key factors behind PAYSTRAX’s decision to keep scaling its operations in the country. The company highlights that Lithuanian professionals’ attention to detail and adaptability are particularly valuable in the heavily regulated payments industry. 

PAYSTRAX operates as a principal-level payment card acquirer with licences from both Visa and Mastercard, serving online and point-of-sale merchants across 24 countries in the EEA and the UK. As part of its growth strategy, the company is developing new products and services, including more e-commerce platform integrations, a merchant portal with live business intelligence reporting, card payout capabilities, stablecoin settlements, and a Payment Facilitator (PayFac) service that enables platforms and marketplaces to manage payment acceptance at scale. 

Lithuania currently accounts for approximately 115 of the company’s 150 global employees, making it by far the largest hub within the PAYSTRAX network. In 2024, the company was recognised as “Company of the Year” at the Lithuanian Fintech Awards and earned a place among Lithuania’s top trusted companies, as recognised by the country’s largest company directory Rekvizitai.lt. 

According to Minister of the Economy and Innovation Edvinas Grikšas, PAYSTRAX’s continued growth in Lithuania demonstrates the ability of the country’s fintech ecosystem to support companies from startup stage through to international scale: 

Elijus Čivilis, General Manager at Invest Lithuania, believes that PAYSTRAX’s trajectory from a two-person founding team to a 150-strong company headquartered in Vilnius is a compelling case study for Lithuania’s investment environment. 

Founded in 2018 by two payments industry veterans from Iceland – Johannes Ingi Kolbeinsson and Gunnar Mar Gunnarsson – PAYSTRAX now operates offices in Vilnius, Klaipėda, London, Leeds, Malta, and Reykjavík. The founders previously built Kortathjonustan (later KORTA PAY), one of Iceland’s pioneering payment companies, before choosing Lithuania as the base for their next venture. PAYSTRAX is an authorised Payment Institution in both the EU and the UK.