Latvia

LV · LVA · 428EuropeEUR €23 methods

Revised · 5 sources

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Non-cash to cash ratio reached 77:23 in February 2024, reflecting a nearly cashless society

~1.5M

online population

~22%

of total retail

~97%

banked adults

~70%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend

CategoryLeading methodShare

CardVisa46%
Bank Transfer / Bank LinkSEPA Direct Debit35%
E-WalletGoogle Pay12%
Cash—5%
Other—2%

Methods in use

top 8 of 23 · by spend

MethodTypeShare

All 23 methods in Latvia →

Checkout behaviour

67% of Latvians use contactless cards daily; 22% use smartphone payments daily (August 2024)

Cards hold 46.35% of e-commerce market share; BNPL growing at 5.03% CAGR through 2031

~22%

e-commerce of retail

Facts

ISO 3166: LV · LVA · 428
Region: Europe
Population: 1.8M
Currency: EUR €
Internet use: ~85%
Banked adults: ~97%
Methods live: 23
Banks covered: 7

Largest banks

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Sources

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