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Payment Organisation
None.
Domestic Card Brand
No domestic card schemes.
Market Structure
The Latvian card market has a competitive, decentralised, infrastructure composed of 13 card issuers, nine acquirers, card processors, six ATM networks and five POS networks.
The number of Latvian payment cards reached 2.23 million in 2019, down 10,000 from 2018.
In 2019, total bank cards issued were equivalent to 1.17 per capita; 89.79% 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, instant payments
STATISTICAL KEY FIGURES FOR 2019 PROVIDED IN THIS PROFILE
• UPDATED: tables with card business data 2015-2019; 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
PRODUCT INFORMATION
Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout.
VERSION
Version 1.1 - last updated Friday 15th January 2021
