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Domestic Card Brand
No domestic card schemes.
The Latvian card market has a competitive, decentralised, infrastructure composed of 14 card issuers, Ten acquirers, card processors, seven ATM networks and five POS networks.
The number of Latvian payment cards reached 2.24 million in 2018, down 65,000 from 2017.
In 2018, total bank cards issued were equivalent to 1.17 per capita; 88.04% of bank cards were debit cards.
As in other Baltic states, the domestic banking market is dominated by banks from Sweden.
In 2014, Latvia became the 18th member of the Euro system.
Emerging Open Banking ecosystem. Strengthening AML procedures. Ongoing bank sector consolidation.
Notable Market Trends
Contactless rollout: cards, POS/MPOS terminals, mobile apps.
Statistical Key Figures for 2018 provided in this profile:
• UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
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1.1 last updated 13th January 2020