Gintare Truksnyte, Deputy CEO (UK), PAYSTRAX

Today we're delighted to speak with Gintare Truksnyte, Deputy CEO (UK) and Group Chief Compliance and Legal Officer at PAYSTRAX. With over 15 years of experience spanning banking, fintech, and private legal practice, Gintare brings a unique perspective on how compliance can become a competitive advantage rather than a barrier to growth. In this interview, she shares insights on PAYSTRAX's journey to profitability without external funding, the importance of embedding governance into business strategy, and the trends that will define the next phase of fintech evolution.

My questions are in bold - over to you Gintare:

Who are you and what's your background?

I'm Gintare Truksnyte, a Deputy CEO and Group Chief Compliance & Legal Officer based in London, having recently relocated from Vilnius, Lithuania. With more than 15 years of experience spanning banking, fintech, and private legal practice, I specialise in helping organisations navigate complex regulatory environments while enabling sustainable business growth. My focus is on building robust governance and compliance frameworks, strengthening risk management, and supporting international businesses in scaling responsibly across multiple jurisdictions.

What is your job title and what are your general responsibilities?

I'm the Deputy CEO (UK) and Group Chief Compliance and Legal Officer at PAYSTRAX, overseeing the Group's compliance framework to ensure that regulatory requirements are embedded across the organisation. My role involves working closely with business and operational teams to ensure compliance, manage risk, maintain strong governance and support sustainable growth.

In 2026, compliance goes far beyond policies and controls. So a key part of my role is helping the business navigate regulatory complexity, while enabling innovation and maintaining trust with our customer base, partners and regulators.

Can you give us an overview of your business?

PAYSTRAX is a fintech company focused on delivering secure and reliable payment solutions for businesses. We help organisations manage payments efficiently while maintaining high standards of compliance, security and customer service.

Our approach combines technology with strong governance, allowing clients to operate confidently in an increasingly complex regulatory environment. In a market where trust is critical, we believe responsible growth and customer confidence go hand in hand.

Tell us how you are funded?

While many FinTech businesses are built on investment rounds and venture capital, PAYSTRAX has always believed in a different model: earn first, spend second.

Instead of relying on outside funding, we focused on creating a business that generated its own revenue from the very beginning. That decision has allowed us to stay independent, make long-term decisions without external pressure, and invest where it matters most.

The results speak for themselves. We achieved break-even within six months of launching and have been cashflow positive ever since. Gross annual revenue grew from more than €20 million in 2022 to €29.6 million in 2023, representing year-on-year growth of 47%.

We don't chase headlines by calling ourselves disruptors or innovators. Our goal is straightforward: build efficient, scalable payment solutions that simplify life for merchants and retailers. Their success drives ours. As our business continues to expand, robust compliance and strong governance remain at the heart of everything we do.

What's the origin story? Why did you start the company? To solve what problems?

The PAYSTRAX co-founders previously built and operated a payment card acquiring company with technology developed entirely in-house, they understood both the strengths and the limitations of traditional acquiring platforms. They saw a clear opportunity to build something better - an acquirer designed from the ground up to be faster, more scalable, and ready for the future.

Instead of relying on ageing infrastructure, we embrace the latest financial technologies to create a cloud-based platform that is efficient, flexible, and built to evolve. Our practical experience helps us distinguish between the features that genuinely create value and those that simply add cost and complexity.

While we're proud to be one of Europe's few organically profitable FinTech businesses, profitability has never been our only objective. Our mission is to redefine what merchants should expect from a payment partner by delivering smarter technology, exceptional service, and long-term value.

Who are your target customers? What's your revenue model?

PAYSTRAX serves a diverse customer base, supporting merchants across both e-commerce and point-of-sale (POS) channels. By offering solutions for online, in-store, and omnichannel businesses, we help merchants deliver seamless payment experiences wherever their customers choose to shop.

This broad market focus has established PAYSTRAX as a growing force in the UK and European payments industry. Our technology is designed to meet the evolving needs of modern commerce, giving businesses the flexibility and scalability they need to succeed.

If you had a magic wand, what one thing would you change in the banking and/or FinTech sector?

I would encourage greater harmonisation across regulatory frameworks. Businesses operating internationally increasingly face differing requirements across jurisdictions, creating unnecessary complexity and inefficiencies. And more consistency between regulatory frameworks would go a long way in solving.

Local requirements will always matter, but a more consistent approach would allow organisations to focus more resources on innovation, customer experience and responsible growth.

What is your message for the larger players in the Financial Services marketplace?

Trust should remain the industry's most important objective. Yes, growth and innovation are essential. But they must be supported by strong governance, transparency and responsible decision-making.

Compliance should not be viewed as a barrier to progress. I believe that when embedded into business strategy from the beginning, it becomes a competitive advantage and helps organisations build stronger relationships with customers and regulators.

Where do you get your Financial Services/FinTech industry news from?

I draw on a variety of sources rather than relying on a single publication. Alongside LinkedIn, I regularly read the Financial Times, Bloomberg, and Harvard Business Review for insights into financial services, leadership, and global business trends. I also follow regulatory updates and industry reports to stay abreast of developments in payments, compliance, risk management, and the evolving fintech landscape.

Can you list 3 people you rate from the FinTech and/or Financial Services sector that we should be following on LinkedIn, and why?

Rather than focusing on specific individuals, I follow a broad range of thought leaders whose expertise spans payments, fintech, regulation, compliance, AML, risk management, and corporate governance. I also make a conscious effort to learn from leaders outside financial services, particularly those who share practical insights on organisational leadership, culture, and navigating transformation. In my experience, sustainable innovation is driven not only by technology but by people, effective governance, and strong leadership.

What FinTech services (and/or apps) do you personally use?

I use a combination of traditional banking services and digital financial solutions that support everyday payments, international transactions, and digital wallets. Beyond the products I use personally, I make a conscious effort to explore new fintech solutions and payment technologies to understand the customer journey, user experience, and emerging trends. As someone working at the intersection of business leadership, compliance, and payments, I believe it's important to experience how innovation translates into practical, secure, and trusted financial services.

What's the best new FinTech product or service you've seen recently?

I'm less focused on individual products than on innovations that solve real business and customer challenges. At the moment, I find the rapid evolution of AI-powered compliance, digital identity, and embedded financial services particularly exciting. The greatest opportunities lie in technologies that simplify customer journeys while strengthening security, regulatory compliance, and trust. In my view, the most successful innovations are those that balance technological advancement with responsible governance and sustainable business practices.

Finally, let's talk predictions. What trends do you think are going to define the next few years in the FinTech sector?

Several themes will shape the next phase of fintech. First, AI will increasingly support areas such as compliance, risk management and operational efficiency, although human judgement will remain essential.

Second, compliance will become more deeply embedded within business strategy rather than being treated as a final checkpoint. Organisations that foster collaboration between compliance, technology and commercial teams will be better positioned to innovate responsibly.

Finally, trust will continue to emerge as a key differentiator. Customers, regulators and partners increasingly expect transparency, accountability and strong governance, making responsible business practices a long-term competitive advantage.

Many thanks to Gintare for taking the time to share her insights with FinTech Profile. You can learn more about PAYSTRAX on their website.