Almost a Third of Card Spending Goes Online
- Latvia sees a rise in online shopping and card payments, according to recent data.
- The rapid expansion of e-commerce is fueling an increase in the use of bank cards for online transactions, according to statistics from Latvijas banka, the central bank of...
- Online payment card transactions are streamlined, with many online retailers offering the option to save card details for future purchases, enabling "one-click" payments.
E-commerce Growth Drives Increase in Payment Card Use in Latvia
Table of Contents
- E-commerce Growth Drives Increase in Payment Card Use in Latvia
- E-commerce Growth Drives Increase in Payment Card Use in Latvia: A Q&A
- introduction
- Q&A
- 1. how is E-commerce growth impacting payment methods in Latvia?
- 2. What is the volume of non-cash payments in Latvia?
- 3. What are the most popular online purchases in Latvia?
- 4. What percentage of Latvians shop online?
- 5. What are the available online payment methods in Latvia?
- 6. Which online payment methods are most popular?
- 7. What advantages do payment cards offer for online shopping?
- 8. How has e-commerce impacted card transactions?
- Summary Table: E-commerce and Payment Trends in Latvia
Latvia sees a rise in online shopping and card payments, according to recent data.
The rapid expansion of e-commerce is fueling an increase in the use of bank cards for online transactions, according to statistics from Latvijas banka, the central bank of Latvia. The central bank reported that 786.1 million non-cash payments totaling 409.3 billion euros were executed in Latvia in 2023.
Online payment card transactions are streamlined, with many online retailers offering the option to save card details for future purchases, enabling “one-click” payments. According to Latvijas Banka, the proportion of cash payments reached a high point last year.
Data indicates that approximately 72% of women and 69% of men in Latvia shopped online at least once in 2024. The most popular purchases were clothing, footwear, and accessories (58%), followed by electrical and household appliances (26%), and medications (24%).
Payment cards are a way to shop fast, conveniently and safely on the Internet, so we see that their use is becoming more widespread… Purchases on the Internet, paying with cards, accounting for at least 15% of all card transactions.
Online payments can be made using payment cards, payment initiation links, or Banklinks. Banklinks allow users to pay directly from their bank account via internet banking, connecting and confirming the transaction without using a payment card.
Observations suggest that payment initiation links are not as widely used as payment cards for online shopping. This may be because payment initiation links often operate only between local or specific merchants, while payment cards offer more versatility, enabling shopping on both local and international platforms like amazon, eBay, and Zalando.
E-commerce Growth Drives Increase in Payment Card Use in Latvia: A Q&A
introduction
Latvia is experiencing a meaningful surge in e-commerce, leading to a corresponding increase in the use of payment cards for online transactions. This article explores the key trends and provides insights into the evolving landscape of digital payments in Latvia.
Q&A
1. how is E-commerce growth impacting payment methods in Latvia?
The rapid expansion of e-commerce is directly fueling the increased use of bank cards for online transactions. According to Latvijas Banka,the central bank of Latvia,this is a significant trend.
key Takeaway: As online shopping becomes more prevalent, payment cards are becoming the preferred method for transactions.
2. What is the volume of non-cash payments in Latvia?
In 2023, a significant 786.1 million non-cash payments were executed in Latvia, totaling 409.3 billion euros. This indicates a strong reliance on digital payment methods.
Source: latvijas Banka
3. What are the most popular online purchases in Latvia?
In 2024, clothing, footwear, and accessories were the most popular online purchases, accounting for 58%.The other key categories included are:
Electrical and household appliances (26%)
Medications (24%)
4. What percentage of Latvians shop online?
In 2024, approximately:
72% of women shopped online at least once.
69% of men shopped online at least once.
This highlights the widespread adoption of e-commerce among both genders.
5. What are the available online payment methods in Latvia?
Online payments can be made using:
Payment cards
payment initiation links
banklinks.
Banklinks allow users to pay directly from their bank account via internet banking.
6. Which online payment methods are most popular?
Payment cards are the most widely used method. Payment initiation links are not as prevalent, as they may be restricted to specific merchants.
Why payment cards are favored: payment cards offer greater versatility, working on both local and international platforms.
7. What advantages do payment cards offer for online shopping?
Payment cards enable fast,convenient,and secure online transactions. Many online retailers offer the option to save card details for future “one-click” payments, streamlining the purchasing process.
8. How has e-commerce impacted card transactions?
Purchases made over the Internet using cards account for at least 15% of all card transactions.
Summary Table: E-commerce and Payment Trends in Latvia
| aspect | Data/Trend | Year |
| :———————– | :————————————————————————————————————- | :—- |
| Total Non-Cash Payments | 786.1 million transactions totaling 409.3 billion euros | 2023 |
| Women Shopping Online | ~72% shopped online at least once | 2024 |
| Men Shopping Online | ~69% shopped online at least once | 2024 |
| Top Purchase Category | Clothing, footwear, and accessories (58%) | 2024 |
| Purchases on the Internet using cards accounts for | At least 15% of all card transactions | 2025 (Data analysis) |