--- title: "Paywerk AS · Payment institution (Estonian Financial Supervision Authority) · Estonia | Elucidate" description: "Paywerk AS is authorised by Estonian Financial Supervision Authority as a payment institution in Estonia. Licence 16218310. LEI 984500G51D4EE4571E45. Register status, licences, activities and ownership." url: https://elucidate.co/directory/paywerk-as-49854d8514f8 --- 1. [Directory](https://elucidate.co/directory) 2. [Estonia](https://elucidate.co/directory/country/ee) 3. Paywerk AS 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. Register status Licensed in Estonia Payment institution · Estonian Financial Supervision Authority Prudential licence [1 licence or registration ↓](https://elucidate.co/directory/paywerk-as-49854d8514f8#licences) BIC **No BIC** LEI **[984500G51D4EE4571E45](https://search.gleif.org/#/record/984500G51D4EE4571E45)** [Licence no. **16218310**](https://elucidate.co/directory/paywerk-as-49854d8514f8#licences) [Group: Swedbank AB](https://elucidate.co/directory/group/M312WZV08Y7LYUC71685) ## 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 Register](https://elucidate.co/directory/register/eba-psd2) Estonian Financial Supervision Authority | Payment institutionPayment Institution | 16218310 | [Estonia](https://elucidate.co/directory/country/ee) | Active | 2022-04-11 | — | - Money remittance - 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/paywerk-as-49854d8514f8#overview-sources) Customers Not published Employees 5 FTE · This entity · 31 Dec 2025 · [annual report ↗](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) 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](https://elucidate.co/directory/swedbank-ab-swedsess), 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 ↗](https://paywerk.co/) [integration.paywerk.co ↗](https://integration.paywerk.co/) developer and integration documentation [status.paywerk.co ↗](https://status.paywerk.co/) service status page [merchant.paywerk.co ↗](https://merchant.paywerk.co/) merchant portal - **Official social accounts:** None found Sources · 7 pages consulted 1. [fi.ee/en/payment-services/payment-services/payment-institutions/estonian-payment-institutions/p](https://www.fi.ee/en/payment-services/payment-services/payment-institutions/estonian-payment-institutions/paywerk) 2. [paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) 3. [paywerk.co/about-us/contacts/](https://paywerk.co/about-us/contacts/) 4. [paywerk.co/](https://paywerk.co/) 5. [integration.paywerk.co/](https://integration.paywerk.co/) 6. [globenewswire.com/news-release/2024/07/23/2917316/0/en/Inbank-sells-21-stake-in-Paywerk-to-Swedbank.html](https://www.globenewswire.com/news-release/2024/07/23/2917316/0/en/Inbank-sells-21-stake-in-Paywerk-to-Swedbank.html) 7. [wordpress.org/plugins/paywerk-payments/](https://wordpress.org/plugins/paywerk-payments/) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/paywerk-as-49854d8514f8#overview-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 ↗](https://www.fi.ee/en/payment-services/payment-services/payment-institutions/estonian-payment-institutions/paywerk) | 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/paywerk-as-49854d8514f8#overview-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. [paywerk.co ↗](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) - **Payment schemes and card networks:** SEPA Credit Transfer Access not stated [integration.paywerk.co ↗](https://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](https://elucidate.co/directory/paywerk-as-49854d8514f8#overview-sources) - Buy now, pay later - Payment gateway - Merchant acquiring 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 25This entity · 31 Dec 2025 · [annual report ↗](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) - **Sells to:** Small businesses · Enterprises · Consumers - **Serves customers in:** Estonia ## Leadership Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/paywerk-as-49854d8514f8#overview-sources) - **Founder:** Erkki Saarniit Member of the Management Board (juhatuse liige) Confirmed 5 May 2026 · [paywerk.co ↗](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/paywerk-as-49854d8514f8#overview-sources) 1. Jul 2025 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 ↗](https://paywerk.co/docs/reports/annual/Paywerk%20AS%20Annual%20Report%202025.pdf) 2. Jul 2024 Leadership Founder and chief executive Jan Andresoo left the management board when the Swedbank acquisition completed. Three supervisory board members also left. [globenewswire.com ↗](https://www.globenewswire.com/news-release/2024/07/23/2917316/0/en/Inbank-sells-21-stake-in-Paywerk-to-Swedbank.html) 3. Jul 2024 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 ↗](https://www.globenewswire.com/news-release/2024/07/23/2917316/0/en/Inbank-sells-21-stake-in-Paywerk-to-Swedbank.html) 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 - **LEI:** [984500G51D4EE4571E45 ↗](https://search.gleif.org/#/record/984500G51D4EE4571E45) - **How the LEI was matched:** Matched by Elucidate to GLEIF on name, country and address - **Elucidate firm ID:** 49854d8514f8 ## Profile - **Type:** Payments & e-money - **Regulation:** Prudential licence - **Main licence class:** Payment Institution - **Activities:** - Money remittance - Payment services - Card acquiring - Payment initiation - Account information - **Licensed in:** [Estonia](https://elucidate.co/directory/country/ee) · 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](https://elucidate.co/directory/swedbank-ab-swedsess) · Sweden[M312WZV08Y7LYUC71685 ↗](https://search.gleif.org/#/record/M312WZV08Y7LYUC71685) The Swedbank AB group has 15 institutions in the directory, in 9 countries: 14 hold a BIC and 1 does not. Including [Swedbank AS](https://elucidate.co/directory/swedbank-as-habaee2x), [Swedbank AB](https://elucidate.co/directory/swedbank-ab-habalt22), [Swedbank AB](https://elucidate.co/directory/swedbank-ab-swedsess), [Swedbank AB](https://elucidate.co/directory/swedbank-ab-swedus33), [Payex Sverige AB Filial I Finland](https://elucidate.co/directory/payex-sverige-ab-filial-i-finland-psfffih2). [See the Swedbank AB group →](https://elucidate.co/directory/group/M312WZV08Y7LYUC71685) 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 ```xml 984500G51D4EE4571E45 Paywerk AS 10414 Tallinn EE Niine tn 11 ``` 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 - [Swedbank AS BIC HABAEE2X Credit institution Prudential licence Estonia · On the ECB list of supervised entities · LEI 549300PHQZ4HL15HH975](https://elucidate.co/directory/swedbank-as-habaee2x) - [Swedbank AB BIC HABALT22 Credit institution Prudential licence Lithuania · On the ECB list of supervised entities · LEI 549300GH3DFCXVNBHE59](https://elucidate.co/directory/swedbank-ab-habalt22) - [Swedbank AB BIC SWEDSESS Financial institution Not on a tracked register Sweden · Not on a tracked register · LEI M312WZV08Y7LYUC71685](https://elucidate.co/directory/swedbank-ab-swedsess) - [Payex Sverige AB Filial I Finland BIC PSFFFIH2 Financial institution Not on a tracked register Finland · Not on a tracked register · LEI 9845003DD0EC84CT1507](https://elucidate.co/directory/payex-sverige-ab-filial-i-finland-psfffih2) - [Swedbank Hypotek AB BIC SPIBSES1 Financial institution Not on a tracked register Sweden · Not on a tracked register · LEI 549300TJREQ7GHIXWR36](https://elucidate.co/directory/swedbank-hypotek-ab-spibses1) - [Swedbank Investiciju Valdymas Uab BIC ROBRLT21 Financial institution Not on a tracked register Lithuania · Not on a tracked register · LEI 549300D1777S8BEGUJ59](https://elucidate.co/directory/swedbank-investiciju-valdymas-uab-robrlt21) - [Swedbank Lizingas, Uab BIC SWLULT22 Financial institution Not on a tracked register Lithuania · Not on a tracked register · LEI 984500FB0CC7DBA47U64](https://elucidate.co/directory/swedbank-lizingas-uab-swlult22) - [Swedbank Robur Fonder AB BIC ROBRSESS Financial institution Not on a tracked register Sweden · Not on a tracked register · LEI 549300NXP7NMRCRG3P34](https://elucidate.co/directory/swedbank-robur-fonder-ab-robrsess) [All 15 institutions in the Swedbank AB group →](https://elucidate.co/directory/group/M312WZV08Y7LYUC71685) ### 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. ## Assess the financial crime risk behind a licence A licence records what an institution is authorised to do; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) 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.