PAYSTRAX, an Icelandic startup, is set to expand its operations in Lithuania, with plans to create 150 new job positions in its existing offices in the capital city and the port city over three years. The company intends to hire 75 new employees within this year itself, emphasizing the strengthening of its capabilities in IT, finance, marketing, operations, and customer management functions. This move is a significant step in broadening the company's footprint in the region.

The decision to expand in Lithuania has been influenced by the availability of highly qualified professionals in the country. According to the company's executives, Lithuania has been a critical part of PAYSTRAX's journey from its inception. The talents, ecosystem, and work culture present in Lithuania have been decisive factors that contributed to the company's growth trajectory. The new expansion plans signify PAYSTRAX's confidence in Lithuania as an ideal location for developing next-generation payment solutions.

Currently, Lithuania serves as the largest hub for PAYSTRAX, with approximately 115 out of a total of 150 employees based in the country. This strong workforce reflects the company's commitment to the Lithuanian market and its reliance on local talent to drive its future developments. The expansion not only aims to enhance the company's operational framework but also underscores Lithuania's emerging status as a technology and innovation center in the region.