Key Data

• Trading Name: Walletto
• Legal Entity: Walletto UAB
• Activities: e-money institution
• Location: Vilnius, Lithuania
• Regulations: e-money institution licensed by the Bank of Lithuania
• Key People: ,Edgars Lasmanis, Irina Istjagina (Linkedin), Romans Baranovs (Linkedin), Dagmāra Matīsa (Linkedin)
• PCI DSS Compliance: Level 1 certification
  

Offering

WALLETTO focuses primarily on the B2B segment and provides services in the following areas:

• Acquiring (acceptance of payments made with VISA and Mastercard cards)
• Payments (IBAN opening, SEPA transfers, mass payments and SWIFT transfers);
• Card Issuing (BIN sponsorship, Co-branded debit, credit, and prepaid card programs for both of the most recognizable international card organizations in the world, VISA and Mastercard)

Their main service includes:

• IBAN accounts
• business IBAN accounts
• merchant accounts
• prepaid cards, debit cards
• co-branded cards, card processing
• payment acquiring
• BIN sponsorship
• white-label card issuing to individuals, companies, merchants, banks, e-money institutions, FinTech companies, travel companies, loan providers.

Industries

Low to High Risk:

E-Commerce, Crypto, Banking, Insurance,Travel, Online Broker

We have received informations that Walletto is active for various offshore brokers.

Regulation

UAB Walletto is an established Lithuanian company that obtained an Electronic money institution license No. 33 by the Bank of Lithuania on March 29, 2018 to provide payment financial services, card issuing and e-commerce to clients in Europe.

People

• CCO: Irina Istjagina (Linkedin)
• CEO: Romans Baranovs (Linkedin)
• COO: Dagmāra Matīsa (Linkedin)
• Owner: EDGARS LASMANIS , former Director of Connectum (PR42 profile),Edgars Lasmanis has joined Walletto UAB as chairman of the supervisory board. He has held this role since October 2017, according to his LinkedIn profile.

Connectum Connection

Connectum Limited (www.connectum.eu) is a payment institution with e-money status registered with the UK Financial Conduct Authority (FCA) with reference number 624117.

From at least 2017 to 2019, Connectum laundered millions of illegal proceeds of the scams of the cybercrime organization E&G Bulgaria and transferred them to the bank accounts of offshore companies of the cybercrime organization.

In October 2020, Edgars Lasmanis sold Connectum to the politically exposed person (PEP) Cambodian Sokha Heng, the wife of former Transport Ministry secretary of state Ing Bun Hoaw (UK Companies House). Read more on the background of Heng Sokha here on Radio Free Asia.

Customer review

There are no customer reviews about Walletto UAB online.

Conclusion

Due to its connection to Connectum and the associated money laundering allegations, the past of its owner and the lack of customer reviews, we rate Walletto UAB on RED.