Malta · Payments & e-money
Papaya LTD
Papaya Ltd is a private limited company based in Gżira, Malta. The Malta Financial Services Authority (MFSA) authorises it as an electronic money institution under registration number C55146. It issues e-money accounts with EUR IBANs and prepaid Mastercard cards to consumers and businesses under its Blackcat brand, formerly Blackcatcard. It also offers co-branded and white-label payment services, and SEPA correspondent access to other regulated institutions.
Licences and registrations
Held by Papaya LTD (LEI 549300AOLMEKXO0DSU51). 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 RegisterMalta Financial Services AuthorityLinked by LEI. Matched by Elucidate to GLEIF on name and country only. | Electronic money institutionE-Money / Stored Value Institution | C55146 | Malta | Active | 2012-04-30 | — |
|
Search the register ↗ |
- Licences belong to the legal entity, not to a BIC.
- 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.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- PAPYMTMTXXX head office
- Connection to Swift
- Connected to SwiftThis BIC is registered as a live address on the Swift network. The institution sends and receives Swift messages under PAPYMTMT directly.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- SCT · SCT Inst · VOP · TIPS
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2018-04-07
- Last updated
- 2022-02-14
Overview
Researched 29 Sep 2026 · Sources
Customers
Not published
Employees
Not published
Ownership
Privately held
Firm type
E-money and accounts
Trades as Blackcat (formerly Blackcatcard)
- Ownership
- In an August 2024 announcement the firm described Dmitrijs Panurskis as chairman of the board and owner.
- Head office
- 31 Sliema Road, GZR 1637 Gzira, Malta
- Company register
- Malta Business Registry C 55146
- Incorporated
- 2012
Online
- Websites & references
- papaya.eu ↗
blackcat.app ↗ consumer and business site of the Blackcat brand
blackcatcard.com ↗ site of the former Blackcatcard brand
Wikidata Q130238956 ↗ - Official social accounts
- LinkedIn ↗ · X ↗ · Facebook ↗ · Instagram ↗ · Telegram ↗ · Reddit ↗ · Medium ↗
Sources · 11 pages consulted
- blackcat.app/legal-entities
- blackcatcard.com/legal/legal-agreements
- papaya.eu/
- businessnow.mt/malta-based-papaya-ltd-powers-launch-of-blackcat-a-new-european-fintech-app/
- fintechfutures.com/digital-payments/papaya-becomes-one-of-the-first-emis-in-europe-with-direct-sepa-access
- fintechfutures.com/partnerships/papaya-ltd-partners-with-sme-bank-to-strengthen-safeguarding-of-customer-fun
- businessnow.mt/malta-based-fintech-firm-whose-former-director-was-sanctioned-by-the-us-slapped-with-fiau
- maltatoday.com.mt/news/court_and_police/136471/papaya_limiteds_request_to_silence_times_of_malta_denied_by_
- newsbook.com.mt/en/court-rejects-papayas-bid-to-block-times-of-malta-report/
- fintechfutures.com/paytech/malta-s-papaya-promotes-igor-tsybolyuk-to-ceo
- fintechintelnew.mywebsitepreview.co.uk/people-moves/papaya-ltd-appoints-new-chief-executive-officer/
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
The MFSA authorises the firm as an electronic money institution under registration number C55146. It issues Blackcat cards itself under a licence from Mastercard International Corporation.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Malta Financial Services Authority Malta | Electronic Money Institution | C55146 | In its own name | Active | blackcat.app ↗ |
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
- Safeguarding
- Segregated safeguarding accountsThe firm states that it deposits customer funds in a separate account at a credit institution. It has described a two-bank safeguarding model that also uses insurance.
- Safeguarding bank
- SME Bank Lithuania
- Payment schemes and card networks
- SEPA Credit Transfer Direct fintechfutures.com ↗
SEPA Instant Credit Transfer Direct fintechfutures.com ↗
Mastercard Direct blackcatcard.com ↗
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
It offers EUR e-money accounts with IBANs, SEPA transfers and prepaid Mastercard cards through the Blackcat app. It also offers white-label services and SEPA correspondent access to other institutions. Crypto services in the app are provided by MANERIO Sp. z o.o., not by Papaya.
It serves consumers and businesses from Malta, and the Blackcat app is marketed to users across Europe.
- Sells to
- Consumers · Small businesses · Financial institutions · Platforms and marketplaces
- Serves customers in
- Malta
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Igor Badanov Chief Executive Officer
Recent events 1 enforcement or investigation item
Researched 29 Sep 2026 · Sources
-
Other
The firm launched the Blackcat app, which completed the rebrand of its Blackcatcard platform.
businessnow.mt ↗ -
Other
A Maltese court refused the firm's request for an injunction to stop Times of Malta reporting on an FIAU review and ordered it to pay costs.
maltatoday.com.mt ↗ -
Other
The firm announced a safeguarding account at SME Bank, to take effect once the required regulatory steps were completed.
fintechfutures.com ↗ -
Other
The firm said it had been listed as a direct participant in SEPA Credit Transfers and SEPA Instant, with live use from 10 September 2025.
fintechfutures.com ↗ -
Leadership
The firm appointed its chief operating officer, Igor Tsybolyuk, as chief executive officer.
fintechfutures.com ↗ -
Enforcement
The FIAU fined the firm EUR 279,756 and issued a reprimand and a follow-up directive over AML breaches. The firm has appealed.
businessnow.mt ↗
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
Head-office record
- BIC
- PAPYMTMTXXX
- How the BIC breaks down
- PAPYBank
- MTCountry · Malta
- MTLocation
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 549300AOLMEKXO0DSU51
- LEI record
- View on GLEIF ↗
- Licence no. · EBA-PSD2
- C55146
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate to GLEIF on name and country only.
- Register-entry ID
- 8ab52af89430
- National bank code
- Sort code 36836
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Payment services
- Card acquiring
- E-money / stored value
- Licensed in
- Malta
- Country · region
- Malta · Middle East & North Africa
- Banking supervision
- Not on the ECB's list of supervised entities as of 2026-07-01
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
- Founded
- 2012
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
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- 31 SLIEMA ROAD GZIRA GZR1637 MALTA
- Operational address
- 31 SLIEMA ROAD GZIRA GZR1637 GZIRA MALTA
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>PAPYMTMTXXX</BICFI>
<LEI>549300AOLMEKXO0DSU51</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>PAPYMTMTXXX</BICFI>
<LEI>549300AOLMEKXO0DSU51</LEI>
<Nm>PAPAYA LTD</Nm>
<PstlAdr>
<TwnNm>GZIRA</TwnNm>
<Ctry>MT</Ctry>
<AdrLine>31 SLIEMA ROAD GZIRA GZR1637</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
Payment schemes and systems
EPC registers of 2026-09-11 · ECB T2 list of 2026-07-02 · ECB TIPS list of 2026-09-01 · SIX Bank Master valid on 2026-09-28
| Scheme or system | Since | Registered with | Note |
|---|---|---|---|
| SEPA Credit TransferISO 20022 messages | 2018-05-07 | Head office | — |
| SEPA Instant Credit TransferISO 20022 messages | 2025-09-01 | Head office | — |
| Verification of Payee | 2025-10-06 | Head office | — |
| TIPS (TARGET Instant Payment Settlement)ISO 20022 messages | — | Head office | — |
SEPA dates are when the institution became ready for the scheme. TIPS entries have no joining date.
An institution missing from T2 may still be reachable through an indirect participant. The ECB’s TIPS list does not separate participants from reachable parties. It includes institutions reachable in Swedish kronor as well as in euro.
“ISO 20022 messages” marks a scheme or system whose rulebook or operator specifies ISO 20022 for messages between participants.
National bank codes
Sort code · Malta
1 code file of 2026-09-23
| Code | Routes to BIC | Name in the national file | City |
|---|---|---|---|
| 36836 | PAPYMTMT | Papaya Ltd. | Gzira |
Each code shows the name in the national file. Smaller banks often route through a central institution’s BIC. A code can therefore belong to a different bank than the one on this page.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
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 →Credits for this page
- Payment schemes and systems—Source: European Payments Council (EPC) Registers of Participants; matched to BICs by Elucidate. Source: European Central Bank, List of TIPS participants and reachable parties.
- Wikidata—CC0, matched on the BIC or LEI recorded in Wikidata. It is community-edited, so check key facts.
- National bank codes—Malta (Source: Central Bank of Malta).
- EBA PSD2 Register—European Banking Authority (EBA) · register ↗ as at 25 September 2026
- 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.
- Images—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: Papaya Ltd · CC BY 4.0 · Wikimedia Commons · original.
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