The payment market in Latvia has the following characteristics:
Digital payment growth: - Bank card usage is rising, especially debit cards - Mobile payment and digital wallet adoption rates are increasing
Reduced cash usage: - Although cash is still accepted, usage frequency is declining - Small payments are shifting to digital methods
E-commerce development: - Online payment solutions are diversifying - International payment platform usage is increasing
Innovative payment technologies: - Contactless payments are popular in retail - Mobile payment applications such as Apple Pay and Google Pay are gradually becoming popular
Local payment innovation: - Introduction of instant payment systems has promoted digital payments - Local mobile payment solutions such as Satispay are popular
Regulatory environment: - Complies with EU Payment Services Directive (PSD2) - Focuses on payment security and consumer protection
Fintech development: - Financial technology innovation is accelerating, especially in mobile payments - Traditional banks are actively embracing digital transformation
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Popular payment methods
Paysera
Paysera is commonly used for digital wallets payments in LV.
- Payment type
- Digital Wallets
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
Trustly
Trustly is commonly used for bank transfer payments in LV.
- Payment type
- Bank Transfer
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
Satispay
Satispay is commonly used for digital wallets payments in LV.
- Payment type
- Digital Wallets
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
Paysafecard
Paysafecard is commonly used for prepaid card payments in LV.
- Payment type
- Prepaid Card
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
Skrill
Skrill is commonly used for digital wallets payments in LV.
- Payment type
- Digital Wallets
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
SEPA Direct Debit
SEPA Direct Debit is commonly used for bank transfer payments in LV.
- Payment type
- Bank Transfer
- Buyer coverage
- LV
- Payment currency
- EUR
- Refund
- Partial refund
Latvia
Country code
LV
Currency code
EUR
Currency unit
€ EUR