Regulated e-Money Institution powered by railsbank

Key Data

  • Trading Name: PayrNet
  • Legal Entity: PayrNet Limited
    PayrNet UAB
  • Activities: regulated payment brand
  • Location: United Kingdom, Lithuania, Singapore
  • Regulations: authorized by the Financial Conduct Authority (FCA)

PayrNet is a regulated payment brand and venture owned by the FinTech Railsbank.  Customers contract with PayrNet for regulated services and with Railsbank for technology services.

The payment processor operates via PayrNet Limited, an FCA-regulated e-Money Institution, and PayrNet UAB, an e-Money Institution regulated by the Bank of Lithuania. The Singapore entity operates with a Temporary exemption from holding a license under the Payment Services Act 2019.

PayrNet is one of the partners of MuchBetter (PC42 profile) and the issuer of the MuchBetter debit card.


The company offers a range of services, including e-wallets, prepaid cards, and direct debit payments.

One of the key offerings from PayrNet is its open banking platform, which allows businesses to securely access and use their customers’ banking data to streamline payments and financial management. This platform is designed to simplify the payment process and improve customer experience.

In addition to its open banking platform, PayrNet also offers white-label solutions for businesses looking to develop their own payment products. These solutions include e-wallets, prepaid cards, and other payment-related services.


PayrNet’s fees, as their fees can vary depending on the specific service being used and the individual business’s needs.

Common fees that payments companies may charge include:

  1. Transaction fees: These are fees charged for each transaction processed through a payment platform.
  2. Monthly fees: Some payment providers may charge a monthly fee for access to their platform or certain features.
  3. Setup fees: These are one-time fees charged to set up an account or service.
  4. Withdrawal fees: If a business needs to withdraw funds from its account, some payment providers may charge a fee for the withdrawal.
  5. Currency conversion fees: If a business needs to make payments in a different currency than their account currency, some payment providers may charge a fee for currency conversion.


In February 2023, The Bank of Lithuania has ordered PayrNet UAB to stop accepting new customers due to allegations of “serious and systematic violations of the Law on Prevention of Money Laundering and Terrorist Financing.”

Lithuanian regulators have revoked UAB Payrnet’s licence for “gross, systematic and multiple violations” of local laws and have initiated bankruptcy proceedings against Payrnet.


We rate the company due to the AML investigations on BLACK.


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