Non-cash payments accounted for 74% of consumer payments in Latvia in August 2025, which was down from record 78% in February 2025, according to the Bank of Latvia’s latest payment radar survey conducted by Latvijas Fakti, The Baltic Times reports. Meanwhile, cash payments accounted for 26% (22%) of all payments. In recent years, the share…
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…
Estonia has implemented a new rounding rule for cash payments as of 1 January 2025, The Baltic Guide reports. Under the new “Swedish rounding” rule, the final cash transaction totals will be rounded to the nearest five cents, reducing the need for one and two cent coins. The coins will still remain legal tender, however….
Estonia’s central bank, the Bank of Estonia, will stop ordering one and two-cent coins as of 2025, ERR reports. Under new rounding rules, cash transactions will be rounded to the nearest five cents. Rait Roosve, head of the Bank of Estonia’s cash and payment systems department, noted that the smallest coins were seldom used for…
The number of non-cash payments executed in Latvia totalled 395 million in the first half of 2024, which was 6% more than in the same period of 2023, according to the Bank of Latvia, LSM reports. The value of all non-cash payments totalled EUR 491.8bn, which was up by 226% over a year. The volume…
The number of non-cash payments in Latvia totalled 394.2mn in the first half of 2023, which was 10% more than in the same period of 2022, the Bank of Latvia reported. The total value of non-cash payments amounted to EUR 150.7bn, which was up 26% from a year earlier. The average number of payments was…