Almost a third of consumers in Latvia still pay in cash, according to a report from financial technology platform Adyen, Labs of Latvia reports. The data showed that 29% of Latvian consumers prefer to pay in cash. Around a third of those aged 30 and those aged 60 as well as a quarter of 20-year-olds prefer cash. One in six in the 16-19 age group prefer to pay in cash as well. Over the past year, nearly every Latvian has used cash at least once. However, both younger and older generations are moving away from cash gradually, Adyen’s report noted. Even among those aged 70 and older, over 40% now prefer to pay with debit card.
Read Less, Know More.