Regulated Lithuanian-Israeli e-Money Institution
Verifo is one of the trading styles of Verified Payments UAB, registered in Lithuania and regulated as an e-Money Institution by the Bank of Lithuania. The company also offers a Banking-as-a-Services (BaaS) white-label solution used by Paypugs (PC42 profile), for example.
Verifo is a complete online banking solution including SEPA and SWIFT payments, payment collections, cloud-based forex payments, and merchant API.
In May 2022, the Bank of Lithuania launched a probe into Verified Payments to assess their compliance with anti-money laundering and terrorism financing guidelines. Allegedly, the regulator received respective complaints. Hence, we include Verifo in our “Orange Compliance” list.