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Number of cashless payments up 3% in first half of 2018

The number of cashless payments has grown 3% in the first half of 2018 as compared to the latter half of 2017, while payment volume has decreased 18%. A total of 235 million cashless transfers were made January through July 2018, with a value of over €104 billion.

About two thirds of the total number of payments were card payments, with client transfers making up about a third of payments. About 1.4 million cashless payments are made in Latvia each day, according to data by Bank of Latvia.

Bank of Latvia rep Jānis Silakalns told Latvian Radio that by mid-year there were about 2.2 million payment cards -- or 1.2 per each resident -- issued in Latvia. "We have seen the number of issued payment cards shrinking about 3%. This can be explained with the fact that American Express cards were discontinued in March," he said.

Meanwhile the number of service points for cashless payments grew slightly to 42,000 terminals and 1,025 ATMs across Latvia, said Silakalns. 

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