30 million non-cash payments executed in 2022

Take note – story published 1 year ago

Figures released by the Latvian central bank (Latvijas banka, LB) February 27 show that 730.0 million non-cash payments worth a total of 259.1 billion euros were executed by Latvian payment service providers in 2022. This averages 2 million payments worth 709.8 million euro per day.

The total volume and value of non-cash payments made by customers increased by 25% and 18% respectively in comparison with 2021. According to LB the rise is attributable to growing activity of the population,  high inflation experienced in 2022.

As in previous years, the most popular non-cash payments were card payments and customer credit transfers, constituting 61% and 38% of the total number of non-cash payments respectively.

To ensure card payments, 2.1 million payment cards were issued by Latvian payment service providers as at the end of 2022 (1.1 cards per capita on average), and most of them were cards with a debit function.

43.6 thousand points of sale (POSs) and 898 ATMs were available to the public. At the end of 2022, the number of customer payment accounts opened by Latvian payment service providers totalled 3.0 million or 1.6 payment accounts per capita on average.

A detailed report on the operation of interbank payment systems, development of payment instruments and other areas vital for non-cash payments is available on Latvijas Banka's website: (https://www.bank.lv/en/statistics/stat-data/payment-statistics#latvia-s-payment-statistics).

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