# Lithuania — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/LT
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **CENTROlink** is the Bank of Lithuania's SEPA gateway (228.3M payments in 2023)
- **55% instant payments** - leads euro area in instant payment share
- **Phone number proxy** available via Swedbank, SEB (more joining)
- **Revolut** became largest bank by assets (32.83% market share)
- **No unified national QR standard** - phone-based payments emphasized

## Banking landscape

### Central Bank
- **Name:** Lietuvos bankas (Bank of Lithuania)
- **Website:** https://www.lb.lt/
- **Role:** CENTROlink operator, Eurosystem member, fintech licensing hub

### Major Banks (2024)

| Rank | Bank Name | Total Assets (EUR) | Market Share | Owner |
|------|-----------|-------------------|--------------|-------|
| 1 | Revolut Bank UAB | 20,288 M | 32.83% | Revolut (UK-founded) |
| 2 | Swedbank AB | 19,577 M | 31.68% | Swedbank (Sweden) |
| 3 | SEB bankas | 15,189 M | 24.58% | SEB Group (Sweden) |
| 4 | Luminor | ~6,500 M | ~10.5% | Blackstone (US) |
| 5 | Artea (ex-Šiaulių) | ~4,000 M | ~6.6% | Domestic |

### Market Structure
- **Revolut Disruption:** Rose from minor to #1 in 5 years
- **Swedish Dominance (declining):** Swedbank + SEB combined 52.5% → now facing Revolut
- **Fintech Hub:** Lithuania is EU's largest fintech licensing center
- **Branch Decline:** Only 151 branches nationwide (2024)

### Banking Transformation
- 2019: Swedbank, SEB, Luminor dominated
- 2024: Revolut #1, traditional banks losing share
- Artea (rebranded Šiaulių Bankas) most branches (54)

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| CENTROlink | Bank of Lithuania | SEPA gateway | Active |
| TIPS | Eurosystem | Instant EUR | Active |
| RT1 | EBA Clearing | Instant EUR | Active |

### CENTROlink
- **Operator:** Lietuvos bankas (Bank of Lithuania)
- **Type:** SEPA gateway for all PSP types
- **Connected to:** RT1 and TIPS
- **2023 Volume:** 228.3 million payments
- **2023 Value:** EUR 456 billion
- **Growth:** 10x increase since 2018

### Instant Payment Leadership
- **55% of CENTROlink payments are instant**
- **64% of interbank credit transfers are instant** (highest in euro area)
- Lithuania leads Eurozone in instant payment adoption

### August 2024 Regulation
- Instant Payments Regulation effective August 4, 2024
- EMIs and PIs can now participate directly in payment systems
- Expanded access under Settlement Finality Directive amendments

---

## QR code standards

### No Unified National QR Standard

Lithuania does not have a country-specific QR payment standard. The focus is on:

| Feature | Type | Status |
|---------|------|--------|
| Phone Proxy | Phone number payments | Active (Swedbank, SEB) |
| EPC QR | European standard | Available |
| Bank-specific solutions | Various | Active |

### Phone Number Proxy (Primary Innovation)

| Attribute | Value |
|-----------|-------|
| **Operator** | Bank of Lithuania |
| **Service Name** | Proxy Lookup Service |
| **Type** | Phone number linked to IBAN |
| **Current Banks** | Swedbank, SEB |
| **Status** | Expanding |

### How Phone Proxy Works
1. User consents in mobile app to link phone to IBAN
2. Phone registered in Bank of Lithuania database
3. Sender enters recipient's phone number
4. System looks up linked IBAN
5. Instant payment executed

### Open Banking QR Capabilities
- 24 bank APIs registered (Q2 2024)
- 150 registered TPPs
- Payment links and QR generation available via APIs

---

## Mobile payment apps

| App Name | Bank | SEPA Instant | Phone Proxy | QR |
|----------|------|--------------|-------------|-----|
| Swedbank | Swedbank | Yes | Yes | Limited |
| SEB Lithuania | SEB | Yes | Yes | Limited |
| Luminor | Luminor | Yes | Coming | Limited |
| Revolut | Revolut | Yes | Via app | Yes |
| Artea | Artea | Yes | Coming | Limited |

### Revolut in Lithuania
- Licensed by Bank of Lithuania
- Full banking license holder
- 32.83% market share
- QR payment features via app

### Traditional Bank Apps
- Swedbank and SEB dominate traditional banking
- Phone proxy feature differentiator
- Instant payments standard feature

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Phone Proxy](https://docs.barcoder.ai/docs/payments/LT/phone-proxy) | Phone P2P | Phone # | Swedbank, SEB | — |
| [EPC QR](https://docs.barcoder.ai/docs/payments/LT/epc-qr) | European QR | QR Code | Limited | [`epc-qr`](https://docs.barcoder.ai/docs/standards/epc-qr) |

## Sources

- [Bank of Lithuania - CENTROlink](https://www.lb.lt/en/centrolink)
- [Bank of Lithuania - Instant Payments](https://www.lb.lt/en/instant-payments)
- [Bank of Lithuania - CENTROlink Marks Instant Era](https://www.lb.lt/en/news/payment-system-centrolink-marks-instant-payments-era-in-lithuania)
- [Invest Lithuania - SEPA Instant First](https://investlithuania.com/news/bank-of-lithuania-one-of-the-first-in-europe-to-offer-sepa-instant-payments/)
- [TheBanks.eu - Lithuania Major Banks](https://thebanks.eu/countries/Lithuania/major_banks)
- [LRT - Revolut Becomes Largest Bank](https://www.lrt.lt/en/news-in-english/19/2647488/revolut-shakes-up-lithuania-s-market-becoming-its-largest-bank-in-5-years)
- [Baltic Times - Bank Rankings](https://www.baltictimes.com/swedbank_ranks_1st_among_lithuanian_banks_by_assets__deposits__seb_by_loans/)
- [Noda - Open Banking Lithuania](https://noda.live/articles/open-banking-in-lithuania)
- [EBF - Lithuania Banking Facts](https://www.ebf.eu/wp-content/uploads/2024/12/Lithuania.pdf)
- [Elevate Pay - Banks in Lithuania](https://www.elevatepay.co/blog/banks-in-lithuania)

## Full country report

[LT-lithuania.md](https://docs.barcoder.ai/docs/payments/LT)