PAYSTRAX

Compliance isn’t just a trend - it's essential. International sanctions play a crucial role in the payments industry. Our Head of AML and Sanctions Compliance, Aukse Trapnauskaite, shares how PAYSTRAX, as a card acquirer, follows these regulations and outlines the key measures we take to prevent violations: "Adherence to international sanctions regulations is not just a legal obligation but also an important component of risk management, reputation preservation, and ethical business conduct. When it comes to international sanctions compliance, card acquirers are often seen as intermediaries between merchants and payment networks, with a seemingly limited role in sanctions enforcement. But is such perspective entirely correct? Here at PAYSTRAX, we consider ourselves as an important part of financial system. By ensuring that processed merchants transactions align with sanctions requirements, we help maintain the security and integrity of both our own operations and the global financial system. In the light of today`s international sanctions landscape, non-compliance puts financial institutions at risk not only of legal liabilities or financial loses, but more importantly, of damaging their reputation and losing the trust of clients, partners, and other stakeholders if they fail to safeguard against sanctions violations. Today acquirers must take a more proactive stance in monitoring and preventing violations of sanctions, and the key measures are: ✅ Understanding possible sanctions risks – look at them from as many different angles as possible. ✅ Do not assume or rely on other counterparties, such as merchants, issuers or payment networks to do their screenings - acquirer still carries legal responsibility to ensure they do not process payments that breach sanctions. ✅ Implement advanced automated screening solutions, robust due diligence programs, and leverage technology to identify potential risks. ✅ Understand and continuously monitor business profile and activities of the clients. ✅ Carry out regular trainings for the employees involved – understanding “why we do this” and “how we do this” is the key. ✅ Periodically monitor effectiveness and efficiency of the implemented sanction’s controls. By embracing these actions, acquirers can better protect themselves from legal and financial repercussions, safeguard their reputation, and ensure an ethical business conduct." #PAYSTRAX #SanctionsCompliance #Compliance #HeadOfAML #Regtech #Regulations

Our October overview is out!🍂   Whether you're on the job hunt, curious about payments industry, or just looking for a good read – we’ve got you covered. Subscirbe and don’t miss out on any updates from our team!   #OctoberNewsletter #PAYSTRAX #IndustryInsights #StayConnected

We're #hiring ! 📢 PAYSTRAX is looking for a Partner Success Representative – Junior Account Manager to join our team in Klaipeda, Lithuania. Check out the full job ad here! 👇 🔗 https://lnkd.in/dJbfjBdS #jobad #jobopening #finance #CRM #AccountManager #fintech

Happy Halloween from PAYSTRAX! 🎃 We hope your day is full of treats (and no tricks)! 🍬 May your evening be filled with spooky fun, sweet surprises, and maybe a little mystery. Stay safe, and enjoy the festivities! 👻🕸️ #Halloween #SpookySeason #PAYSTRAX

Thank you Malcolm Stewart, for an effective and valuable training session marathon across both our Vilnius and Klaipeda offices. 💼 🤝 Partnerships are one of the key success factors in our business, and we are constantly striving for improvement. We’re already putting the lessons into practice, enhancing our communication and teamwork. Much appreciated! #training #partnerships #communication #teamwork

Our CEO, Johannes Kolbeinsson, is one of the nominees to join Advisory Board at The Payments Association! 🎉 The whole PAYSTRAX team is keeping their fingers crossed!🤞 #PAYSTRAX #Leadership #ThePaymentAssociation #Fintech

Leadership is about people, not just processes. Our Chief Operations Office, Povilas Žiba, shares why fostering a people-centred approach to leadership is essential for building teams that thrive: “I'm reminded every day how crucial people are to the success of any organisation. Without a talented team, their dedication, creativity and commitment, I can confidently say that we wouldn’t be able to achieve the great heights we've reached here in PAYSTRAX. Effective leadership goes beyond managing day-to-day operations. It’s about recognising the strengths of each individual and ensuring they have the resources, support, and trust they need to excel. Empowerment comes when team members feel ownership over their work, are encouraged to bring new ideas to the table, and are given the autonomy to make meaningful decisions. As leaders, our role is to guide, not control—to create a space where innovation is nurtured, and people feel confident taking calculated risks. Motivation has to be self-driven, but it's also sparked by leadership that values every contribution and helps each person realise their potential. While personal drive is essential, the environment plays a significant role in sustaining that motivation. It’s important that leaders recognise the efforts and achievements of their team members, no matter how small. A simple acknowledgment can go a long way in making someone feel valued. When people know their contributions matter, they're invested in the collective success of the organisation. True leadership means consistently helping people grow, removing obstacles in their path, and providing opportunities for them to evolve both professionally and personally. Creating this type of culture isn't easy, but the results are undeniable. Teams become more engaged, collaboration strengthens, and the quality of work reaches new levels. Ultimately, people are at the heart of any business success. It’s our job to ensure they feel supported, motivated, and equipped to thrive, while still pushing them out of their comfort zones, where growth happens the fastest. In my experience, when you focus on nurturing your team and fostering a culture of growth, the results speak for themselves. It's a privilege to work alongside such motivated professionals, and I'm excited about what we can continue to accomplish together.” #PAYSTRAX #COO #Leadership #Management #CompanyCulture

We're #hiring ! 📢 PAYSTRAX is looking for a Junior Transaction Monitoring Analyst to join our team in Klaipeda, Lithuania. Check out the full job ad here! 👇 🔗 https://lnkd.in/gbY8g4F9 #jobad #jobopening #finance #accountant #fintech

Meet us at SiGMA World in Malta! 🚀 Johannes Kolbeinsson (CEO), Bjarni Þór Sigurðsson (Chief Commercial Officer) and James Gilbert (Head of Commercial in UK) from the PAYSTRAX team will be attending #SigmaEurope from November 11-14. If you're planning to attend and would like to connect, please reach out to them directly or contact us. See you there! 👋 #Sigma #event #netwroking #SigmaEurope2024 #SigmaMalta

Embedded Payments reshaping digital landscape 💳🔄 In the latest Finance Derivative article, Johannes Kolbeinsson, CEO at PAYSTRAX, analyses how this game-changing technology is reshaping e-commerce. The future looks bright for seamless in-app transactions; however, hurdles remain in user experience, fraud prevention, and security. As consumer demand for frictionless digital payments rises, embedded finance is poised to revolutionise how we buy, sell, and interact with brands. 🔗 Check out the article to explore the challenges and immense potential ahead! 👇 https://lnkd.in/d4HMBwUW #Fintech #EmbeddedPayments #Ecommerce #DigitalTransformation #Innovation