ConnectPay alternative for crypto, iGaming and PSP businesses
Narvi is a Finnish e-money institution with dedicated account offers for crypto and iGaming businesses. ConnectPay is a Lithuanian e-money institution whose published policy restricts most crypto businesses. Here's how they compare.
The short answer. Choose Narvi if you run a crypto business and want an account offer written for it, or an iGaming business that wants to be named in the offer rather than simply not excluded. Consider ConnectPay if you need 17 payment currencies, Visa debit cards, or card acquiring alongside your account.ConnectPay is the closest like-for-like alternative to Narvi: both are EEA e-money institutions with their own BIC and direct access to SEPA through CENTROlink. The differences are in who each one is built for. Every ConnectPay fact below comes from ConnectPay's documents or the Bank of Lithuania as of 21 October 2026, linked at the end.
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At a glance
ConnectPay vs Narvi at a glance
Every ConnectPay fact below is as stated in ConnectPay's documents or the Bank of Lithuania's registers on 21 October 2026. Each number in brackets links to its source; the full list is at the end of the page.Licence- ConnectPay (UAB "ConnectPay"): e-money institution, licence No. 24 from the Bank of Lithuania, issued 16 January 2018. No MiCA crypto-asset licence found [1][2]
- Narvi (Narvi Payments Oy Ab): e-money institution, Finnish Financial Supervisory Authority (FIN-FSA), registration 3190214-6, passported across the EEA [17]
- ConnectPay: direct business accounts, self-serve or through sales, plus embedded finance for platforms, marketplaces, fintechs and neobanks. Your tier depends on risk: owner and incorporation countries and business activity [3][4][5]
- Narvi: businesses, personal accounts for business owners, Banking-as-a-Service and white label [18][24]
- ConnectPay: its published list puts crypto exchanges, brokers, custodians, miners, DeFi and ICO/STO issuers under "restricted", and prohibits virtual asset tumblers and mixers. iGaming isn't named; its terms exclude only illegal gambling [7][8]
- Narvi: dedicated offers for iGaming and Web3/crypto businesses; crypto exchanges, payment services and high-risk industries go on a custom enterprise plan [18][19][20]
- ConnectPay: business IBAN starting with LT, opened in the customer's name; virtual IBANs over a master account; segregated client-funds accounts [9][10]
- Narvi: dedicated IBAN in your company's name, starting with FI, under Narvi's own BIC [21]
- ConnectPay: SEPA; SEPA Instant send and receive, 24/7, up to EUR 100,000 per transaction under its payment services terms; Swift through correspondents, up to four business days; own BIC CNUALT21; direct CENTROlink participant [12][13]
- Narvi: SEPA and SEPA Instant 24/7, Instant at the SEPA price up to EUR 100,000 per payment; Swift under Narvi's own BIC NARYFIH2; direct CENTROlink participant [22][13]
- ConnectPay: three published tiers with minimum monthly fees, FX and cross-border fees; the final tier is confirmed during onboarding [16]
- Narvi: one-time onboarding fee plus three months of monthly fees up front; monthly fee by risk tier; minimum balance of three monthly fees (see pricing) [18]
- ConnectPay: self-serve application with an online ID check, "in days" if documents are ready; a published document list that includes apostilled corporate documents and register extracts no older than six months [14][11]
- Narvi: 10-minute online application, then a compliance review and a priced offer [18]
- ConnectPay: crypto businesses are restricted, not prohibited; no crypto services in the account [7]
- Narvi: crypto OTC desk converts crypto to fiat and pays it into your account; IBANs hold fiat only [23]
- ConnectPay: Visa debit cards (including white label), API, Banking-as-a-Service, card acquiring and bank-payment acceptance, payment initiation and account information, multi-user with four-eyes approval [10]
- Narvi: business API with public documentation; Banking-as-a-Service, white label and roles for directors, accountants and employees [24][25]
Crypto and iGaming
Crypto and iGaming: named, or just not excluded
ConnectPay's published class-of-trade list, effective 12 February 2025, puts crypto exchanges, brokers, custodians, miners, DeFi projects and ICO/STO issuers under "restricted" activities. That isn't a ban, but it means extra scrutiny and no guarantee [7]. iGaming isn't on the prohibited list, and ConnectPay's terms exclude only illegal gambling [8], but none of its product pages name it. Its homepage lists crowdfunding, remittance, platforms, marketplaces, lending and e-commerce among the industries it serves [6].Narvi has dedicated offers for crypto exchanges, custodians, OTC desks and DeFi entities and for iGaming operators, platforms and affiliates [20][19]. They go on a custom enterprise plan, priced after compliance review [18]. Medium and high-risk tiers cover B2B payments only, so if you pay out to players or consumers, you need the enterprise plan, and we'll tell you that before you're priced.IBAN and rails
Similar plumbing, different country code
On infrastructure, the two are close. Both are direct CENTROlink participants and both issue IBANs under their own BIC: CNUALT21 for ConnectPay, NARYFIH2 for Narvi [12][13]. Both cap SEPA Instant at EUR 100,000 per payment [12][22].The differences: a ConnectPay IBAN starts with LT, a Narvi IBAN with FI [9][21]. Narvi prices SEPA Instant the same as a standard SEPA transfer [22]. ConnectPay sends Swift payments through correspondent banks and quotes up to four business days [12]; Narvi sends Swift under its own BIC.Focus
Where each company is putting its effort
In September 2026 ConnectPay launched Serdis, the core banking platform it built for its own operations, as a product sold to other e-money institutions and banks [15]. It also sells embedded finance to platforms and marketplaces [4].Narvi's focus is business accounts for industries that banks and many EMIs avoid, plus Banking-as-a-Service for platforms that want to offer IBAN accounts [24]. Neither direction is wrong; it depends on whether you need a provider for your own account or a technology partner.When to stay
When ConnectPay is the better choice
ConnectPay lists 17 currencies you can send and receive [11], issues Visa debit cards (including white label), and adds card acquiring, bank-payment acceptance, payment initiation and account information services to the account [10]. If you're a lower-risk business, its published entry tier is a low-cost way to start [16]. And if your counterparties expect a Lithuanian IBAN, ConnectPay gives you one.How to switch
Switching from ConnectPay to Narvi
What to prepare. You'll need your company documents, details of your directors and owners, and a short description of where your money comes from and goes. The full document list is in our help centre.- Book a short call with the onboarding team for a pricing estimate based on your business profile.
- Complete the online application, which takes about 10 minutes (step-by-step guide).
- Our compliance team reviews your documents and sends a priced offer.
- Fund the account: the onboarding fee, three months of monthly fees and a minimum balance of three monthly fees [18].
- Run both accounts in parallel. Move one payment flow at a time (customers, PSPs, payroll, suppliers) and send each counterparty your new IBAN and the BIC NARYFIH2.
- Close the old account only after the last inbound payment has landed, and check your ConnectPay agreement for notice periods and closing fees first.
FAQ
Frequently asked questions
ConnectPay's published policy, effective 12 February 2025, lists crypto exchanges, brokers, custodians, miners, DeFi and ICO/STO issuers as restricted activities rather than prohibited ones, and prohibits virtual asset tumblers and mixers. Acceptance is decided case by case.
Its prohibited list doesn't name iGaming and its terms exclude only illegal gambling, but no ConnectPay product page names iGaming as a served industry. Ask ConnectPay directly before you apply.
No. Narvi Payments Oy Ab is an e-money institution authorised by the Finnish Financial Supervisory Authority and passported across the EEA. It holds client funds separately from its own money, as EU e-money rules require.
Yes. Narvi has dedicated account offers for both. Crypto exchanges, payment services and other high-risk businesses go on a custom enterprise plan, priced after compliance review.
Yes, and we recommend it. Run both accounts in parallel and move your payment flows one at a time, so nothing stops while counterparties update your details.
Narvi charges a one-time onboarding fee and a monthly fee set by your risk tier, with three months of fees paid up front. Enterprise clients are priced after compliance review. The tiers are on the pricing page.
Get a dedicated FI IBAN in your company's nameOpen an account or talk to the onboarding team about your industry and payment flows.
Sources
Sources
Last checked: 21 October 2026. Also compare Narvi with Stable.com, payabl., IBAN4U or Genome, or read our comparison of Wise, Revolut and other alternatives.- Bank of Lithuania, ConnectPay licence
- Bank of Lithuania, ConnectPay register entry
- ConnectPay daily banking
- ConnectPay embedded finance
- ConnectPay pricing
- ConnectPay homepage
- ConnectPay prohibited jurisdictions and class of trade, effective 12 February 2025
- ConnectPay general terms and conditions
- ConnectPay IBAN account agreement
- ConnectPay business accounts
- ConnectPay support FAQ
- ConnectPay payment services terms and conditions
- Bank of Lithuania, official list of systems and their participants
- ConnectPay onboarding document guidelines
- ConnectPay: Serdis launch, 10 September 2026
- ConnectPay pricing plans
- FIN-FSA register of supervised entities
- Narvi pricing
- Narvi for iGaming
- Narvi for Web3 and crypto
- Narvi dedicated IBAN
- Narvi SEPA Instant
- Narvi FAQ
- Narvi Banking-as-a-Service
- Narvi multi-user access
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Narvi Payments Oy Ab is an Authorized Electronic Money Institution (EMI). Narvi’s EMI license is granted by the Finnish Financial Supervisory Authority (FIN FSA) with the registration number 3190214-6. Narvi’s license is passportised to all European Union countries.
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