Bank transfers are now free for Paysera merchants in Lithuania, Latvia and Estonia

The change applies to all of the region's more than 10,000 merchants – the fee disappears once they move to the new Checkout Modern platform, while it remains in place on the legacy Checkout version. Card payment rates are unchanged. 

Payments company Paysera has stopped charging for bank transfers collected through its payment initiation service (PIS) in the Baltic states. The change takes effect together with the launch of Checkout Modern, a new payment platform now open to all of the company's merchants in Lithuania, Latvia, and Estonia. 

More than 10,000 merchants across the Baltics use the Paysera Checkout payment collection service. In total, the service operates in 42 countries and covers over 13,000 active payment projects, though free bank transfers are, for now, available only in the three Baltic states. 

Until now, online retail payments have been dominated by two pricing models: a percentage fee on card transactions or a flat fee per bank transfer. On the new platform, Paysera is dropping the latter. 

The reasoning behind the decision is borne out by the platform's own data: two out of every three payments made through it (66%) are bank transfers rather than card transactions. At the same time, the market price of payment initiation services has fallen so low that the fee generates only marginal revenue for the company, while still appearing as a separate cost line for the merchant. 

A single bank transfer costs between 5 and 20 cents on the market. At those rates, a shop collecting 1,000 bank transfers a month would save between €600 and €2,400 a year. 

“In the Baltics, customers choose a bank transfer more often than a card – on our platform, two purchases out of three are paid for that way. Once the market price of the service dropped to a few cents, charging for it separately stopped making sense for us or for the merchant, so we are removing the fee. Cards remain important, but they should not be the only payment method a business can afford,” says Justina Šidlauskienė, CEO of Paysera. 

What is Checkout Modern? 

The platform replaces the previous Checkout system. In a single payment window, it brings together open banking-based bank transfers, card payments (Visa, Mastercard), and the Apple Pay and Google Pay digital wallets. A buy now, pay later option with Inbank is also available. Bank transfers are supported in Lithuania, Latvia, and Estonia, with the major banks in these countries connected directly to the platform. 

The new version introduces a payment splitting (Split) feature, which automatically divides a single customer payment among several recipients. It is designed for marketplaces, where funds need to reach multiple sellers. Activating card payments has also been simplified, and project management in the merchant portal has been redesigned. 

Integration and expansion 

Merchants can connect through ready-made plugins for WooCommerce (WordPress), PrestaShop, OpenCart, and Shopify – with Magento to follow shortly – or via the API. 

In the self-service portal, merchants manage their own projects and payment methods, monitor transactions in real time, and issue full or partial refunds. Payment links can also be created, making it possible to collect payments without a website at all. The platform is PCI DSS compliant for card payments. 

The legacy Checkout version will remain in operation and will be supported until banks in all currently served countries have been connected to the new platform. The PIS fee continues to apply there. To switch to Checkout Modern, a merchant simply needs to install the new Paysera plugin on their e-shop platform and create a new payment project in the self-service portal. Once the plugin is installed and the project activated, the new system starts working immediately. 

Bulgaria's UBB bank has already been connected to the new platform, and integrations with a further eight banks in Romania and Bulgaria are in development – the company plans to expand into these markets. 

About Paysera 

Paysera is an international fintech group with over 800 employees that has been building innovative financial solutions for more than 20 years. Having started out as an e-commerce payment collection platform, Paysera is today a full-service financial services provider. As the first licensed electronic money institution in Lithuania, it combines bank-grade reliability with fintech flexibility, processing €1 billion in payments collected from e-commerce and more than €12 billion in transfers every year. The Paysera super app is a smart platform for managing everyday finances, where users can not only make payments but also buy gold or invest in real estate projects.