myTU is an AI-driven, fully automated, and cloud-based digital bank. This initiative will allow the company to process card payments directly through its proprietary acquiring infrastructure across multiple platforms, including ecommerce websites, retail outlets, and POS terminals.
Acquiring licences from global payment providers represents an important milestone in myTU’s strategic development, enabling the company to offer card acquiring services directly to its business clients. Partnering businesses with myTU will have the capability to accept Mastercard and Visa payments, both online and offline, optimising their transaction processes and operational flexibility. This is particularly beneficial for ecommerce, online retail, cross-border or international businesses, and high-volume retail operations.
Since becoming a principal member of Visa in 2023, myTU has now secured a new principal membership with Mastercard, showcasing its commitment to rigorous compliance and due diligence standards.
In April 2025, myTU launched Google Pay for its customers, allowing them to easily add their debit cards to Google Wallet.
With this initiative, myTU aimed to empower both individuals and businesses by increasing the security and convenience of their payment options. Following this announcement, myTU customers were able to make purchases in stores, within apps, and online using their smartphones or other Android devices. Furthermore, the introduction of Google Pay underscored the company's dedication to fulfilling the digital banking needs of its clientele.
The announcement came shortly after myTU had raised EUR 10 million in a Series A funding round just a month earlier, with contributions from current shareholders and two new investors. This funding was intended to support myTU in expanding its products, developing acquiring and lending services, and facilitating regulatory preparations for securing a full banking licence from the Bank of Lithuania.
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