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Company‘s path: challenges and future plans

Electronic Money Institution GlobalNetint started 2022 with a huge change – the change of the brand trading name to “payswix”. It offers consumers a significantly expanded range of services. According to executives, the new identity reflects the drive of the institution and marks the beginning of an active product development cycle. We asked Liudvikas Kulikauskas, the head of GlobalNetint, more about the company’s path.

How did the name payswix appeared and what message does that name convey?

I dreamed of a new name, I wanted a name that would give light and positive emotions, and that lies in the concept of “swix”, which means upliftment, a break from everyday problems, a good, easy emotion. With the new brand, we are sending a message that our services are not only secure, convenient, and flexible, they allow us to easily manage financial affairs in the electronic space. All this is no longer new in a market where many electronic payment platforms are already operational. The added value we offer is that we ensure that we enjoy the services we provide.

Did the brand trading name change went smoothly? What difficulties did you face?

Everything went very smoothly and easily. GlobalNetint has been a very global and extensive brand, and with payswix we know exactly where we are going and what we are doing.

Do you have any grand plans for the coming years?

Yes, payswix offers customers local and international payments, currency conversion, e-wallets, and other services, and from this year we also offer prepaid cards for business customers. We are working on new services, we want to make the full transition to acquiring, collecting payment, and someday, when we have a slightly larger individual customer base, we will be able to offer prepaid cards for them.


Are there any plans to create payswix app?

We have a number of improvements coming to ease daily operations for our valued clients. Especially the ones which are business-related. The app is just one of such but not least. 


Was last year a difficult one for business? What challenges did you face?

The past year has not been difficult, however, there have been challenges, but only because we have had an audit inspection that has brought huge benefits for us. We started to go in the direction we wanted to go, we chose which clients we wanted to work with and we have put together a solid strategy. As well during the last year, we invested significant resources to align processes and services as well as to implement training programs throughout the organization which resulted in higher client service quality which resulted in higher annual client survey results. We are very proud to see that it is giving great benefit to our clients and to our employees. 


Are there any plans to expand the payswix team?

Of course. I am glad that the core of the institution’s employees has remained from the very beginning. The team that we assembled is highly motivated, ambitious, and competent. About 30 people are currently employed, but the team is expected to grow to more than 45 by the end of this year. We are also planning expansion worldwide. We want as many payswix sales teams as possible so that the services we offer are even more accessible around the world.


payswix’s new brand – what values do you expect for customers to stand out when thinking about you and your services?

We want payswix clients to associate us with a financial company that offers personal care for the business and individual needs. We focus on the client’s most willing services for daily use. Even if we do not have the desired service, we do not leave the client without an answer, instead, we are looking forward to enhancing our portfolio and fulfilling future needs. 


Has your strategy changed in Lithuania, what is the fundamental change?

Lithuania is a great spot in the European market where the regulation met financial industry needs. It used the right moment to attract European financial institutions who were and are willing to access the EU-based through passporting rights. Lithuania is very important for the company due to its good location, talented people joining the company, and participation in the global financial industry. As well we are happy that the all the financial services available for our clients are available for Lithuanian companies and individuals as well. So I just can confirm that the Lithuanian market is very important for us. This year we are also sponsoring the Lithuanian National Basketball team. We are doing our best to make Lithuania’s name even more prominent in the world as an attractive place to live, work and settle businesses. 

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