---
title: "Maksekeskus AS · Payment institution (Estonian Financial Supervision Authority) · Estonia | Elucidate"
description: "Maksekeskus AS is authorised by Estonian Financial Supervision Authority as a payment institution in Estonia. Licence 12268475. LEI 9845008SD42851GB4897. Register status, licences, activities and ownership."
url: https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9
---

1.  [Directory](https://elucidate.co/directory)
2.  [Estonia](https://elucidate.co/directory/country/ee)
3.  Maksekeskus AS

Estonia · Payments & e-money

# Maksekeskus AS

Maksekeskus AS is an Estonian public limited company based in Tallinn. It trades as Maksekeskus in Estonia and as MakeCommerce in its other markets. Finantsinspektsioon, the Estonian Financial Supervision Authority, authorises it as a payment institution. Since July 2024 it has also been licensed as a credit intermediary. Luminor Bank AS completed its purchase of 99% of the firm in July 2022, buying from Omniva, Inbank and Olsson & Nielsen Nordic. The firm sells bank and card payment acceptance, point-of-sale terminals and delivery integrations to online and physical merchants in the Baltic states and Finland.

Register status

Licensed in Estonia

Payment institution · Estonian Financial Supervision Authority

Prudential licence

[1 licence or registration ↓](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#licences)

BIC **No BIC** LEI **[9845008SD42851GB4897](https://search.gleif.org/#/record/9845008SD42851GB4897)** [Licence no. **12268475**](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#licences) [Group: Luminor Holding AS](https://elucidate.co/directory/group/213800RZWHE5EUX9R444)

## Licences and registrations

Held by Maksekeskus AS (LEI 9845008SD42851GB4897). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.

| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [EBA PSD2 Register](https://elucidate.co/directory/register/eba-psd2) Estonian Financial Supervision Authority | Payment institutionPayment Institution | 12268475 | [Estonia](https://elucidate.co/directory/country/ee) | Active | 2017-08-21 | — | - Payment services - Card acquiring - Payment initiation - Account information | [Search the register ↗](https://euclid.eba.europa.eu/register/pir/search) |

-   Each licence applies in the country of the regulator that granted it.
-   Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.

## Swift network

Swift’s ISO 9362 BIC directory

Holds no BIC in Swift’s directory.

Its LEI is not mapped to a BIC in the Swift and GLEIF BIC-to-LEI relationship file.

## Overview

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

Customers

6,000

merchants · This entity · 12 Mar 2026 · [company statement ↗](https://makecommerce.net/)

Employees

28

FTE · This entity · 31 Dec 2025 · [annual report ↗](https://maksekeskus.ee/wp-content/uploads/2026/07/MK_2025.pdf)

Ownership

Group subsidiary

99% Luminor Bank AS

Firm type

Merchant acquiring and processing

Trades as MakeCommerce

- **Standing:** In July 2026, the shareholders of Luminor Holding AS, the firm's ultimate parent, agreed to sell 100% of it to OTP Bank. The sale still needs regulatory approval.
- **Ownership:** Luminor Bank AS holds 99% of the firm, and Luminor Holding AS heads the group.
- **Direct parent:** [Luminor Bank AS](https://elucidate.co/directory/luminor-bank-as-rikoee22), Estonia 99%
- **Ultimate owner:** Luminor Holding AS, Estonia
- **Head office:** Liivalaia 45, 10145 Tallinn, Estonia
- **Company register:** Estonian Commercial Register 12268475
- **Incorporated:** 2012

### Online

- **Websites & references:** [maksekeskus.ee ↗](https://maksekeskus.ee/) [makecommerce.net ↗](https://makecommerce.net/) English-language site (MakeCommerce brand) [makecommerce.lv ↗](https://makecommerce.lv/) Latvian site [makecommerce.lt ↗](https://makecommerce.lt/) Lithuanian site [developer.makecommerce.net ↗](http://developer.makecommerce.net/) developer portal and API documentation [status.maksekeskus.ee ↗](https://status.maksekeskus.ee/) service status page [merchant.maksekeskus.ee ↗](http://merchant.maksekeskus.ee/) merchant portal [Wikipedia ↗](https://en.wikipedia.org/wiki/Luminor_Bank) group article
- **Official social accounts:** [LinkedIn ↗](https://ee.linkedin.com/company/maksekeskus-as) · [Facebook ↗](https://www.facebook.com/Maksekeskus/)

Sources · 14 pages consulted

1.  [makecommerce.net/contact/](https://makecommerce.net/contact/)
2.  [maksekeskus.ee/](https://maksekeskus.ee/)
3.  [makecommerce.net/](https://makecommerce.net/)
4.  [maksekeskus.ee/aruanded/](https://maksekeskus.ee/aruanded/)
5.  [maksekeskus.ee/wp-content/uploads/2026/07/MK\_2025.pdf](https://maksekeskus.ee/wp-content/uploads/2026/07/MK_2025.pdf)
6.  [makecommerce.net/wp-content/uploads/2024/03/Maksekeskus-general-terms-2024.pdf](https://makecommerce.net/wp-content/uploads/2024/03/Maksekeskus-general-terms-2024.pdf)
7.  [makecommerce.net/general-terms/](https://makecommerce.net/general-terms/)
8.  [fi.ee/en/news/maksekeskus-was-granted-licence-operate-credit-intermediary](https://www.fi.ee/en/news/maksekeskus-was-granted-licence-operate-credit-intermediary)
9.  [luminor.lt/en/news/luminor-completes-acquisition-maksekeskus](https://www.luminor.lt/en/news/luminor-completes-acquisition-maksekeskus)
10.  [luminor.lv/en/news/luminor-signs-agreement-acquire-maksekeskus](https://luminor.lv/en/news/luminor-signs-agreement-acquire-maksekeskus)
11.  [luminor.lt/en/news/otp-bank-acquire-luminor-opening-new-chapter-baltic-financial-markets](https://www.luminor.lt/en/news/otp-bank-acquire-luminor-opening-new-chapter-baltic-financial-markets)
12.  [makecommerce.net/makecommerce-will-have-a-new-ceo/](https://makecommerce.net/makecommerce-will-have-a-new-ceo/)
13.  [uzraudziba.bank.lv/en/market/payment-service-providers/payment-institutions/service-providers-from-the-eea/f](https://uzraudziba.bank.lv/en/market/payment-service-providers/payment-institutions/service-providers-from-the-eea/freedom-of-establishment/maksekeskus-as-latvijas-filiale/)
14.  [maksekeskus.ee/andmekaitsetingimused/](https://maksekeskus.ee/andmekaitsetingimused/)

## Authorisation

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

- **Operates under:** Its own licences

Finantsinspektsioon authorises the firm as a payment institution under decision No. 4.1-1/130 and licenses it as a credit intermediary. Latvijas Banka lists the firm's Latvian branch under the EEA freedom of establishment.

| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Finantsinspektsioon (Estonian Financial Supervision Authority) Estonia | Payment institution licence | 4.1-1/130 | In its own name | Active | [makecommerce.net ↗](https://makecommerce.net/contact/) |
| Finantsinspektsioon (Estonian Financial Supervision Authority) Estonia | Credit intermediary licence | — | In its own name | Active | [fi.ee ↗](https://www.fi.ee/en/news/maksekeskus-was-granted-licence-operate-credit-intermediary) |

Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.

## Partners and safeguarding

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

- **Safeguarding:** Not disclosedThe firm does not publish how it protects merchant funds that are waiting to be paid out.
- **Acquirer / processor:** Luminor Bank AS Estonia [makecommerce.net ↗](https://makecommerce.net/wp-content/uploads/2024/03/Maksekeskus-general-terms-2024.pdf)
- **Payment schemes and card networks:** Visa Through a partner [makecommerce.net ↗](https://makecommerce.net/wp-content/uploads/2024/03/Maksekeskus-general-terms-2024.pdf) Mastercard Through a partner [makecommerce.net ↗](https://makecommerce.net/wp-content/uploads/2024/03/Maksekeskus-general-terms-2024.pdf)

Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.

## Products and markets

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

-   Payment gateway
-   Payment initiation (open banking)
-   Merchant acquiring
-   Buy now, pay later
-   Lending

It offers merchants bank-link and payment-initiation payments, card and wallet payments, POS terminals and delivery integrations. Pay-later and financing come from partner firms.

According to its 2025 annual report, its merchants are mainly in Estonia, Latvia, Lithuania and Finland.

- **Revenue:** EUR 4.22mThis entity · 31 Dec 2025 · [annual report ↗](https://maksekeskus.ee/wp-content/uploads/2026/07/MK_2025.pdf)
- **Sells to:** Small businesses · Enterprises
- **Serves customers in 4 countries:** Estonia · Latvia · Lithuania · Finland

## Leadership

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

- **Chief executive:** Ivars Erdmanis CEO and member of the management board Confirmed 29 Sep 2026 · [makecommerce.net ↗](https://makecommerce.net/contact/)
- **Executive:** Justas Noreika CPO and member of the management board Confirmed 29 Sep 2026 · [makecommerce.net ↗](https://makecommerce.net/contact/)
- **Executive:** Simon Kox Member of board Confirmed 29 Sep 2026 · [makecommerce.net ↗](https://makecommerce.net/contact/)
- **Executive:** Johannes Proksch Member of board Confirmed 29 Sep 2026 · [makecommerce.net ↗](https://makecommerce.net/contact/)
- **Executive:** Modestas Juonys Member of board Confirmed 29 Sep 2026 · [makecommerce.net ↗](https://makecommerce.net/contact/)

## Recent events

Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/maksekeskus-as-5da2dc1ddcd9#overview-sources)

1.  Jul 2026

    Merger / acquisition

    OTP Bank agreed to buy Luminor Holding AS, the firm's ultimate parent, from Blackstone-managed funds and DNB Bank, subject to regulatory approvals.

    [luminor.lt ↗](https://www.luminor.lt/en/news/otp-bank-acquire-luminor-opening-new-chapter-baltic-financial-markets)

2.  Jul 2024

    Licence

    Finantsinspektsioon granted the firm a licence to operate as a credit intermediary on 22 July 2024.

    [fi.ee ↗](https://www.fi.ee/en/news/maksekeskus-was-granted-licence-operate-credit-intermediary)

Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.

## Identifiers

- **Licence no. · EBA-PSD2:** 12268475
- **BIC:** Holds no BIC in Swift’s directory
- **LEI:** [9845008SD42851GB4897 ↗](https://search.gleif.org/#/record/9845008SD42851GB4897)
- **How the LEI was matched:** Matched by Elucidate to GLEIF on name, country and address
- **Elucidate firm ID:** 5da2dc1ddcd9

## Profile

- **Type:** Payments & e-money
- **Regulation:** Prudential licence
- **Main licence class:** Payment Institution
- **Activities:** - Payment services - Card acquiring - Payment initiation - Account information
- **Licensed in:** [Estonia](https://elucidate.co/directory/country/ee) · Europe & Central Asia
- **First registered:** 2017-08-21

Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.

## Ownership and group

GLEIF relationship records

- **Direct parent:** [Luminor Bank AS](https://elucidate.co/directory/luminor-bank-as-rikoee22) · Estonia[213800JD2L89GGG7LF07 ↗](https://search.gleif.org/#/record/213800JD2L89GGG7LF07)
- **Ultimate parent:** Luminor Holding AS · Estonia[213800RZWHE5EUX9R444 ↗](https://search.gleif.org/#/record/213800RZWHE5EUX9R444)

The Luminor Holding AS group has 4 institutions in the directory, in 3 countries: 3 hold a BIC and 1 does not.

Including [Luminor Bank AS](https://elucidate.co/directory/luminor-bank-as-rikoee22), [Luminor Bank AS Latvian Branch](https://elucidate.co/directory/luminor-bank-as-latvian-branch-rikolv2x), [Luminor Bank AS Lithuanian Branch](https://elucidate.co/directory/luminor-bank-as-lithuanian-branch-agbllt2x).

[See the Luminor Holding AS group →](https://elucidate.co/directory/group/213800RZWHE5EUX9R444)

Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control.

## Addresses

- **Address on the register:** Niine 11, Tallinn, 10414
- **Country:** Estonia

## ISO 20022 identification

As an agent in a Swift cross-border payment message (CBPR+)

This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code.

- **Identified by:** Name and postal address, with its LEI
- **Postal address:** Hybrid: town, postcode and country in their own elements, the rest in one address line

```xml
<FinInstnId>
  <LEI>9845008SD42851GB4897</LEI>
  <Nm>Maksekeskus AS</Nm>
  <PstlAdr>
    <PstCd>10414</PstCd>
    <TwnNm>Tallinn</TwnNm>
    <Ctry>EE</Ctry>
    <AdrLine>Niine 11</AdrLine>
  </PstlAdr>
</FinInstnId>
```

CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent.

The values are as published by the register. Check them against your own records before use.

## Related institutions

### Same group

-   [Luminor Bank AS BIC RIKOEE22 Credit institution Prudential licence Estonia · On the ECB list of supervised entities · LEI 213800JD2L89GGG7LF07](https://elucidate.co/directory/luminor-bank-as-rikoee22)

[All 4 institutions in the Luminor Holding AS group →](https://elucidate.co/directory/group/213800RZWHE5EUX9R444)

### Other payments & e-money institutions in Estonia

-   [Meieni OÜ No BIC Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 12013427 (EBA-PSD2) · LEI 984500E2FFC40C38A712](https://elucidate.co/directory/meieni-ou-683ce2f867e4)
-   [Adson AS No BIC Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 14892025 (EBA-PSD2) · LEI 98450091766FACAC4451](https://elucidate.co/directory/adson-as-1b0a8e8dffc6)
-   [AS Creditinfo Eesti No BIC Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 10256137 (EBA-PSD2) · LEI 9845008BFA7E7BB96Q81](https://elucidate.co/directory/as-creditinfo-eesti-ac19726c5917)
-   [Coop Finants AS No BIC Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 12087992 (EBA-PSD2) · LEI 391200XSEIZIU8SNCW94](https://elucidate.co/directory/coop-finants-as-05fe86f0e435)
-   [Crowdestate AS BIC CRWDEE22 Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 14773059 (EBA-PSD2) · LEI 254900ZZM79Z7FFKW251](https://elucidate.co/directory/crowdestate-as-crwdee22)
-   [Crumblo OÜ No BIC Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 14534649 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/crumblo-ou-0c86ef4add09)
-   [Inhouse Pay AS BIC IHPYEE22 Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 14605379 (EBA-PSD2) · LEI 648825NKW56QTH575E23](https://elucidate.co/directory/inhouse-pay-as-ihpyee22)
-   [Ipf Digital AS BIC IPFDEE22 Payments & e-money Prudential licence Estonia · Licensed by Estonian Financial Supervision Authority · 11034137 (EBA-PSD2) · LEI 984500650D127F436942](https://elucidate.co/directory/ipf-digital-as-ipfdee22)

[See all →](https://elucidate.co/directory/search?type=payments&cc=EE) [Other entries on EBA-PSD2 →](https://elucidate.co/directory/register/eba-psd2)

Sources & method

Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI.

An institution missing from these registers is not necessarily unregulated.

Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists.

An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.

[Read the methodology →](https://elucidate.co/directory/methodology)

Register for this page

-   **EBA PSD2 Register**—European Banking Authority (EBA) · [source ↗](https://euclid.eba.europa.eu/register/pir/search) as at 25 September 2026
-   **Ownership and group**—GLEIF Level 2 relationship records (accounting consolidation), matched by LEI.
-   **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.

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Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.