Authorised payment institution — supervised by Latvijas Banka (Bank of Latvia) Rīga, Latvia · European Economic Area
Velvian SIA · Payment institution

Established in Latvia

A licensed payment institution for European business.

Velvian SIA provides card acquiring and merchant settlement services to companies operating in the European Economic Area. We are authorised as a payment institution and operate under the prudential supervision of the Bank of Latvia, within the European framework for payment services.

Supervisory authority
Latvijas Banka — Bank of Latvia
Legal form
Velvian SIA — limited liability company

Services

A focused set of regulated services for merchants.

We do a small number of things and we do them under licence. Each service is provided under the terms of our authorisation and the applicable European payment services rules.

I — E-commerce acquiring

Card acquiring for online merchants

We enter into contracts with online merchants to accept card payments on their websites, apps and checkout pages, and to settle the resulting funds to their accounts. The service covers the full lifecycle of an online transaction, from authorisation to settlement, with the reporting a finance department needs to reconcile it.

  • Acceptance of card-not-present transactions on behalf of the merchant
  • Authorisation, clearing and settlement of accepted transactions
  • 3-D Secure authentication under Strong Customer Authentication (PSD2)
  • Transaction reporting and reconciliation files
  • Chargeback and dispute handling in line with scheme rules
  • Merchant onboarding subject to due diligence and risk assessment

II — POS acquiring

In-store card acceptance at physical points of sale

For merchants with a physical presence, we provide card acquiring at the point of sale, including contact, contactless and mobile wallet acceptance. The service is delivered through certified POS terminals and the same regulated acquiring pipeline that supports our e-commerce product.

  • Acceptance of card-present transactions at the merchant's premises
  • Contact chip & PIN, contactless and mobile wallet payments
  • Certified POS terminals, EMV compliant
  • Settlement to the merchant's account on an agreed cycle
  • Daily batch reporting and end-of-day reconciliation
  • Chargeback and dispute handling in line with scheme rules

III — Merchant settlements

Settlement payments to merchants

We execute settlement payments to our merchants in connection with the acquiring services we provide. Funds collected from card schemes are credited to the merchant's account on an agreed settlement cycle. Client funds are safeguarded and held separately from the company's own assets, in line with the requirements applicable to payment institutions.

  • Settlement of acquired card volumes to merchant accounts
  • Fixed or rolling settlement cycles, agreed with the merchant
  • SEPA credit transfers in euro to EEA accounts
  • Statements, settlement reports and transaction histories
  • Client funds safeguarded and held separately from company assets

Regulation

Authorised, supervised, and run against that standard.

Authorisation is not a badge on a page. It is a set of continuing obligations — capital, governance, safeguarding, reporting — that shape how the company is run.

Supervision

Velvian SIA is authorised as a payment institution and supervised by Latvijas Banka, the central bank and financial supervisory authority of the Republic of Latvia. The licence is listed in the public register of market participants.

Safeguarding of client funds

Funds received from clients for the execution of payment transactions are kept separate from the company's own funds, in accordance with the safeguarding requirements that apply to payment institutions.

Anti-money laundering

Client due diligence, ongoing monitoring and reporting are carried out under Latvian AML/CFT law and the European framework, with a designated officer responsible for compliance.

Governance and risk

The company maintains the internal control, risk management and record-keeping arrangements required of an authorised institution, subject to independent review.

Complaints

Clients may submit a complaint in writing to compliance@velvian.lv or to our registered office. Complaints are handled within the time limits set by the applicable rules, and clients retain the right to refer the matter to the competent authority.

Data protection

Personal data is processed under the General Data Protection Regulation and retained only for the periods required by law and by our regulatory obligations.

Company

A Latvian institution, built for European payments.

Velvian SIA is registered and established in Riga, Latvia, and operates from the European Union. The company was set up to provide acquiring and merchant settlement services to businesses that need a regulated European counterparty and a direct working relationship with the institution that holds the licence.

We deal with a limited number of clients and take on business we can service properly. Every relationship begins with due diligence: we assess the activity, its jurisdictions and its risk before we contract, and we decline what we cannot supervise.

Our acquiring product is designed for merchants of all sizes — from online stores and marketplaces to retailers and hospitality venues operating physical points of sale.

News

Press coverage of our licensing.

Selected press and institutional coverage of the authorisation granted by Latvijas Banka on 16 September 2026.

Contact

Write to us.

Please write to the mailbox that matches your request. Business enquiries are reviewed by the team that will service the account; please describe the activity, the markets involved and the volumes expected.

Registered office

Bruņinieku iela 36 - 3
Rīga, LV-1011
Latvia

Board & legal

Formal legal correspondence and matters addressed to the board of directors.

board@velvian.lv

Compliance & complaints

Regulatory, AML/CFT, data protection and complaints.

compliance@velvian.lv

Customer support

Operational support for merchants and account holders.

support@velvian.lv