Subsidiary IutePay receives EMI license in North Macedonia

Tallinn, Estonia, 16 July 2025. Iute Group, a leading European personal finance group, announces that its wholly owned North Macedonian subsidiary, Iute Pay DOOEL Skopje, has received an Electronic Money Institution (EMI) license from the Central Bank of the Republic of North Macedonia.

Receiving the EMI license marks a significant milestone in Iute Group’s strategic development in Southeast Europe, enabling the company to offer customers in North Macedonia a full ecosystem of financial services. Initially focusing on loan products, Iute launched insurance brokerage under the IuteSafe brand in North Macedonia last year, and is now entering the digital payments market.

IutePay customers in North Macedonia will be able to open payment accounts, top up their digital wallets, access their funds through cardless Iute ATMs, transfer money in real time, make quick payments in shops using QR codes, and perform other transactions through the MyIute mobile app.

Aleksandar Petkovski, CEO of IutePay Macedonia: “The electronic money institution license is a significant step and not just a regulatory approval, but the beginning of a revolution in the way financial services are offered and used in North Macedonia. The Estonian technology has already transformed the way payments are made in several countries in and outside the EU. Now, that technology will be available in Macedonia. Our mission is clear – to offer fast, seamless and user-oriented solutions, with the highest standards of security and innovation.”

IutePay Macedonia plans to launch payment services in the first half of 2026.