Harbortouch, a US-based provider of point-of-sale (POS) payment solutions, has opened its new product development division in Lithuania.

Touted to be the company’s first development centre outside the US, the new division is expected to employ nearly 60 IT professionals.

Harbortouch CEO Jared Isaacman said: “We have chosen Lithuania because of the talented IT specialists available here and the country’s excellent infrastructure.

“The success of other innovative US companies such as Uber in the development of integrated systems in Lithuania has convinced us that we must establish here.”

Harbortouch is also engaged in payment processing through electronic cash registers and credit card terminals. Its payment processing services enable payments with credit, debit, gift and loyalty cards.

The foreign investment promotion agency Invest Lithuania director general Mantas Katinas said: “This project is especially interesting in relation to Lithuania’s growing financial technology cluster.

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“That’s because the system being developed by Harbortouch incorporates hardware solutions, IT development, and big data technology. These are solutions of the future, and the Harbortouch project will certainly contribute to the country’s ability to compete going forward.”