730 million non-cash payments totalling 259.1 billion euro were executed in Latvia in 2022

  • 2023-02-27
  • Latvijas Banka

730.0 million customer non-cash payments totalling 259.1 billion euro were executed by Latvian payment service providers (credit institutions, electronic money institutions, payment institutions, credit unions, Latvijas Banka and the Treasury) in 2022. This averages 2 million payments worth 709.8 million euro a day.

The total volume and value of non-cash payments made by customers increased by 25% and 18% respectively in comparison with 2021. This has been the fastest rise over the last few years, and is linked to two factors:

- growing activity of the population,

- the high inflation experienced in 2022 also partly affected an increase in volume.

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).