Latvia Achieves Record High in Non-Cash Payments

Latvia has reached a significant milestone in its transition towards a cashless economy. According to the latest “Payment Radar” report by Latvijas Banka, non-cash payments now constitute 78% of all transactions, marking a 1% increase from previous figures. This shift underscores the growing adoption of digital payment methods across the country.​

The rise in non-cash transactions reflects broader trends in financial technology and consumer behavior, with more individuals and businesses embracing digital solutions for convenience and efficiency. This development presents new opportunities for fintech startups and investors focusing on payment technologies and digital finance solutions.​

As Latvia continues to lead in digital payment adoption, the environment becomes increasingly favorable for innovation in the fintech sector.​

To read more in detail, visit Labs of Latvia https://labsoflatvia.com/en/news/non-cash-payments-in-latvia-have-reached-a-record-breaking-share