International payment acquiring company PAYSTRAX plans to expand its workforce in Lithuania, with up to 75 new hires expected in 2026 and as many as 150 additional employees over the next three years.

Founded in Lithuania in 2018 by Icelandic entrepreneurs Johannes Ingi Kolbeinsson and Gunnar Mar Gunnarsson, the company has grown to more than 150 employees across six offices in Europe.

The planned hiring will take place across PAYSTRAX’s Lithuanian offices in Vilnius and Klaipėda and will focus on roles in IT, finance, marketing, account management, operations, and onboarding.

The company has already moved to larger premises in Klaipėda and expanded its Vilnius office by adding a second floor to accommodate the growing team.

“Lithuania has been the heart of PAYSTRAX since day one. The talent, the ecosystem, and the work culture here have been instrumental to our growth, from our very first hires to becoming an award-winning international payments company. This expansion reflects our confidence in Lithuania as the right place to build the next generation of payment solutions,”

said Johannes Ingi Kolbeinsson, Group CEO and co-founder of PAYSTRAX.

According to the company, Lithuania’s educated workforce, strong English proficiency, and work culture have been key factors supporting its continued expansion.

PAYSTRAX also noted that the attention to detail and adaptability of Lithuanian professionals are important in the highly regulated payments industry.

PAYSTRAX operates as a principal-level payment card acquirer with licenses from Visa and Mastercard, serving online and point-of-sale merchants across 24 countries in the European Economic Area and the UK.

The company is also developing additional services, including new e-commerce platform integrations, a merchant portal with live business intelligence reporting, card payout capabilities, stablecoin settlements, and a Payment Facilitator (PayFac) service for platforms and marketplaces.

Lithuania currently accounts for around 115 of the company’s 150 global employees.

PAYSTRAX is an authorised Payment Institution in both the EU and the UK, with offices in Vilnius, Klaipėda, London, Leeds, Malta, and Reykjavík.

Featured image credit: Edited by Fintech News Switzerland, based on image by Johannes Kolbeinsson via LinkedIn