Mobile payment platform MoQ has launched its activities in Lithuania. The platform is managed by Mobilieji mokėjimai, a company founded by three biggest competitors in Lithuanian telecommunications sector – Telia Lietuva, Tele2 and Bitė Lietuva.
This is the first mobile payment platform in the Baltics and the first such project in European practice to be launched by competitors in Lithuanian telecommunications sector.
Sorainen advised Mobilieji mokėjimai on competition and financial services & regulation aspects of the transaction.
Partner Daivis Švirinas with senior associate Monika Mališauskaitė advised the client on competition law related matters, including joint control of a joint venture by three competitors.
Partner Augustas Klezys, senior associate Dalia Augaitė and associate Urtė Armonaitė assisted the client with fintech, payments, correct customer identification and other regulatory matters.