Estonia · Payments & e-money
Paywerk AS
Paywerk AS is an Estonian public limited company based in Tallinn. The Estonian Financial Supervision Authority (Finantsinspektsioon) has authorised it as a payment institution since April 2022. Swedbank AB has owned 100% of the firm since 23 July 2024. The firm runs a card-based buy now, pay later payment platform for online shops, which Estonian merchants sign up to through Swedbank.
Licences and registrations
Held by Paywerk AS (LEI 984500G51D4EE4571E45). 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 RegisterEstonian Financial Supervision Authority | Payment institutionPayment Institution | 16218310 | Estonia | Active | 2022-04-11 | — |
|
Search the register ↗ |
- 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
Customers
Not published
Ownership
Group subsidiary
100% Swedbank AB
Firm type
Lending or buy now, pay later
Trades as Paywerk
- Standing
- Swedbank AB has owned the firm since July 2024. It sells its service only through Swedbank's channel in Estonia. When checked in September 2026, its public website showed only a "Coming soon" page.
- Ownership
- Swedbank AB owns 100% of the firm after completing its acquisition on 23 July 2024.
- Direct parent
- Swedbank AB, Sweden 100%
- Head office
- Liivalaia tn 34, 10132 Tallinn, Estonia
- Company register
- Estonian Commercial Register 16218310
- Incorporated
- 2021
- Founders
- Jan Andresoo · Priit Põldoja · Erkki Saarniit · Rain Pikand · Jaak Erm
Online
- Websites & references
- paywerk.co ↗
integration.paywerk.co ↗ developer and integration documentation
status.paywerk.co ↗ service status page
merchant.paywerk.co ↗ merchant portal - Official social accounts
- None found
Sources · 7 pages consulted
- fi.ee/en/payment-services/payment-services/payment-institutions/estonian-payment-institutions/p
- paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf
- paywerk.co/about-us/contacts/
- paywerk.co/
- integration.paywerk.co/
- globenewswire.com/news-release/2024/07/23/2917316/0/en/Inbank-sells-21-stake-in-Paywerk-to-Swedbank.html
- wordpress.org/plugins/paywerk-payments/
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Its own licences
Finantsinspektsioon authorised the firm as a payment institution on 11 April 2022. The firm does not contract with merchants directly. Merchants sign up through Swedbank in Estonia.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Estonian Financial Supervision Authority (Finantsinspektsioon) Estonia | Payment institution authorisation (money remittance, card acquiring, payment initiation and account information services per the EBA register) | 16218310 | In its own name | Active | fi.ee ↗ |
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
- Not disclosedThe firm does not say publicly how it safeguards customer funds. Its 2025 accounts show EUR 25,000 of customer funds held in payment-service settlement accounts.
- Payment schemes and card networks
- SEPA Credit Transfer Access not stated integration.paywerk.co ↗
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 card-based pay-in-three-parts and pay-in-30-days options to online shoppers in Estonia for baskets of EUR 100 to EUR 2,000. Merchants sign up through Swedbank.
According to its integration portal, the firm operates only in Estonia and serves only Estonian merchants and shoppers.
- Revenue
- EUR 25
- Sells to
- Small businesses · Enterprises · Consumers
- Serves customers in
- Estonia
Leadership
Researched 29 Sep 2026 · Sources
- Founder
- Erkki Saarniit Member of the Management Board (juhatuse liige)
Recent events
Researched 29 Sep 2026 · Sources
-
Other
The firm began limited sales of its buy now, pay later payment method through Swedbank's Estonian sales channel in the second half of 2025.
paywerk.co ↗ -
Leadership
Founder and chief executive Jan Andresoo left the management board when the Swedbank acquisition completed. Three supervisory board members also left.
globenewswire.com ↗ -
Merger / acquisition
Swedbank AB completed the acquisition of 100% of the firm, including Inbank Ventures OÜ's 21% stake. The value was not disclosed.
globenewswire.com ↗
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
- 16218310
- BIC
- Holds no BIC in Swift’s directory
- How the LEI was matched
- Matched by Elucidate to GLEIF on name, country and address
- Elucidate firm ID
- 49854d8514f8
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.
- Main licence class
- Payment Institution
- Activities
- Money remittance
- Payment services
- Card acquiring
- Payment initiation
- Account information
- Licensed in
- Estonia · Europe & Central Asia
- First registered
- 2022-04-11
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
- Swedbank AB · SwedenM312WZV08Y7LYUC71685 ↗
The Swedbank AB group has 15 institutions in the directory, in 9 countries: 14 hold a BIC and 1 does not.
Including Swedbank AS, Swedbank AB, Swedbank AB, Swedbank AB, Payex Sverige AB Filial I Finland.
See the Swedbank AB group →Group membership follows the accounting-consolidation relationships reported to GLEIF. It does not show ownership shares or control.
Addresses
- Address on the register
- Niine tn 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
<FinInstnId>
<LEI>984500G51D4EE4571E45</LEI>
<Nm>Paywerk AS</Nm>
<PstlAdr>
<PstCd>10414</PstCd>
<TwnNm>Tallinn</TwnNm>
<Ctry>EE</Ctry>
<AdrLine>Niine tn 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.
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 →Register for this page
- EBA PSD2 Register—European Banking Authority (EBA) · source ↗ 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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A licence records what an institution is authorised to do; it does not assess it. The Elucidate FinCrime Index (EFI) is an independent score of the financial crime risk of banks and payment institutions.
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