The Cards and Payments Industry in Latvia: Emerging Trends and Opportunities to 2020

GlobalData’s 'The Cards and Payments Industry in Latvia: Emerging Trends and Opportunities to 2020' report provides detailed analysis of market trends in the Latvian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including check payments, payment cards, cash transactions, direct debits and credit transfers during the review period (2011–2015).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2016–2020). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Scope

• This report provides a comprehensive analysis of the Latvian cards and payments industry.

• It provides current values for the Latvian cards and payments industry for 2015, and forecast figures to 2020.

• It details the different demographic, economic, infrastructural and business drivers affecting the Latvian cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details marketing strategies used by various banks and other institutions.

Key Highlights

What initiatives are the Latvian government and the central bank taking to bring a larger proportion of the population into the formal financial system? Which institutions collectively formulated the National Strategy for Financial Literacy? What is their key objective and how is this likely to impact on the cards and payments industry?

Which improvements in infrastructure are supporting the growth of payment cards? Which company introduced the first contactless card deployed in the Baltic region? Which bank has subsequently introduced contactless payment cards with electronic ticket (e-ticket) functionality? What are the benefits of this card for the consumer?

What are banks offering to encourage small and medium-sized businesses (SMEs) to accept electronic payments? Which bank launched an SME program and what are they offering based on the volume of transactions SME’s conduct at their POS terminals? What has been the uptake of this program?

Reasons to buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Latvian cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities in the Latvian cards and payments industry.

• Assess the competitive dynamics in the Latvian cards and payments industry.

• Gain insights into marketing strategies used for various card types in Latvia.

• Gain insights into key regulations governing the Latvian cards and payments industry.

Companies mentioned

Swedbank

SEB

Citadele Banka

DNB

Norvik Banka

Nordea Bank AB

Visa

MasterCard

American Express

Table of Contents

1 Definitions and Methodology

1.1 Definitions

1.2 Methodology

2 Key Facts and Events

3 Executive Summary

4 Payment Instruments

4.1 Current Payment Environment

5 E-Commerce

5.1 E-Commerce Market Analysis

6 Alternative Payments

6.1 Alternative Payment Instruments

6.1.1 Paysafecard

6.1.2 Monea

6.1.3 Mobiamo

7 Regulations in the Cards and Payments Industry

7.1 Regulatory Framework

7.1.1 SEPA cards framework

7.2 Anti-Money Laundering (AML)

7.3 Foreign Direct Investment (FDI) Regulations

8 Analysis of Cards and Payments Industry Drivers

8.1 Demographic Drivers

8.2 Economic Drivers

8.3 Infrastructure Drivers

8.4 Business Drivers

9 Market Segmentation

9.1 Market Segmentation and Targeting

9.1.1 Consumer cards

9.1.2 Commercial cards

10 Payment Cards

10.1 Payment Cards Market Analysis

10.1.1 Volume and value of payment card transactions by type

11 Debit Cards

11.1 Debit Card Market Analysis

11.1.1 Debit card transaction volumes and values by channel

11.1.2 Debit card scheme and issuer shares in terms of transaction value

11.1.3 Debit cards comparison

12 Pay Later Cards

12.1 Pay Later Cards Market Analysis

12.1.1 Turnover per pay later card and transaction values by channel

12.1.2 Pay later cards scheme and issuer shares in terms of transaction value

12.1.3 Pay later cards comparison

13 Commercial Pay Later Cards

13.1 Commercial Pay Later Card Market Analysis

13.1.1 Commercial pay later cards comparison

14 Appendix

14.1 Tables

14.2 Contact GlobalData

14.3 About GlobalData

14.4 GlobalData’s Services

14.5 Disclaimer

List of Tables

Table 1: Key Definitions

Table 2: Annual Average Exchange Rate

Table 3: Latvia – Key Facts, 2015

Table 4: Regional Benchmarking of Latvian Payment Cards, 2015

Table 5: Latvia – Mode of Entry of Foreign Banks, 1995–2007

Table 6: Cards for High-Income Consumers, 2016

Table 7: Cards for Shoppers, 2016

Table 8: Cards for Students and the Young Population, 2016

Table 9: Commercial Cards Comparison and Key Features, 2016

Table 10: Latvia – Visa Domestic Multi-Lateral Interchange Fees, 2015

Table 11: Latvia – MasterCard Consumer Card Interchange Fees, 2016

Table 12: Latvia – MasterCard Commercial Card Interchange Fees, 2016

Table 13: Latvia – Debit Cards Comparison and Key Features, 2016

Table 14: Latvia – Visa Domestic Multi-lateral Interchange Fees, 2015

Table 15: Latvia – MasterCard Consumer Card Interchange Fees, 2016

Table 16: Latvia – MasterCard Commercial Card Interchange Fees, 2016

Table 17: Latvia – Gold Credit Cards Comparison and Key Features, 2016

Table 18: Latvia – Premium Credit Cards Comparison and Key Features, 2016

Table 19: Latvia – Commercial Credit Cards Comparison and Key Features, 2016

Table 20: Latvia – Payment Instrument Transaction Values (EUR Billion), 2011–2015

Table 21: Latvia – Payment Instrument Transaction Values (US$ Billion), 2011–2015

Table 22: Latvia – Payment Instrument Transaction Volumes (Million), 2011–2015

Table 23: Latvia – Number of Payment Cards in Circulation by Type (Million), 2011–2020

Table 24: Latvia – Volume of Payment Card Transactions by Type (Million), 2011–2020

Table 25: Latvia – Value of Payment Card Transactions by Type (EUR Billion), 2011–2020

Table 26: Latvia – Value of Payment Card Transactions by Type (US$ Billion), 2011–2020

Table 27: Latvia – Number of Debit Cards in Circulation (Million), 2011–2020

Table 28: Latvia – Debit Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 29: Latvia – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 30: Latvia – Debit Card Total and Average Transaction Values by Channel, 2011–2020

Table 31: Latvia – Number of Debit Cards in Circulation By Scheme (Million), 2011–2015

Table 32: Latvia – Debit Card Transaction Values By Scheme (EUR Billion), 2011–2015

Table 33: Latvia – Debit Card Transaction Values By Scheme (US$ Billion), 2011–2015

Table 34: Latvia – Debit Card Transaction Values by Issuer (EUR Billion), 2011–2015

Table 35: Latvia – Debit Card Transaction Values by Issuer (US$ Billion), 2011–2015

Table 36: China – Number of Pay Later Cards in Circulation (Thousand), 2011–2020

Table 37: Latvia – Pay Later Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 38: Latvia – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020

Table 39: Latvia – Pay Later Card Total and Average Transaction Values by Channel, 2011–2020

Table 40: Latvia – Number of Pay Later Cards in Circulation By Scheme (Thousand), 2011–2015

Table 41: Latvia – Pay Later Card Transaction Values By Scheme (EUR Million), 2011–2015

Table 42: Latvia – Pay Later Card Transaction Values By Scheme (US$ Million), 2011–2015

Table 43: Latvia – Pay Later Card Transaction Values By Issuer (EUR Million), 2011–2015

Table 44: Latvia – Pay Later Card Transaction Values By Issuer (US$ Million), 2011–2015

Table 45: Latvia – Number of Credit Cards in Circulation (Million), 2011–2020

Table 46: Latvia – Credit Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 47: Latvia – Credit Card Total and Average Transaction Values by Channel, 2011–2020

Table 48: Latvia – Credit Card Total and Average Transaction Values by Channel, 2011–2020

Table 49: Latvia – Number of Credit Cards in Circulation By Scheme (Thousand), 2011–2015

Table 50: Latvia – Credit Card Transaction Values By Scheme (EUR Million), 2011–2015

Table 51: Latvia – Credit Card Transaction Values By Scheme (US$ Million), 2011–2015

Table 52: Latvia – Number of Charge Cards in Circulation (Thousand), 2011–2020

Table 53: Latvia – Charge Card Transaction Volumes and Frequency by Channel, 2011–2020

Table 54: Latvia – Charge Card Total and Average Transaction Values by Channel, 2011–2020

Table 55: Latvia – Charge Card Total and Average Transaction Values by Channel, 2011–2020

Table 56: Latvia – Number of Charge Cards in Circulation By Scheme (Thousand), 2011–2015

Table 57: Latvia – Charge Card Transaction Values By Scheme (EUR Million), 2011–2015

Table 58: Latvia – Charge Card Transaction Values By Scheme (US$ Million), 2011–2015

Table 59: Latvia – Pay Later Personal and Commercial Card Transaction Volumes (Million), 2011–2020

Table 60: Latvia – Pay Later Personal and Commercial Card Transaction Values (EUR Billion), 2011–2020

Table 61: Latvia – Pay Later Personal and Commercial Card Transaction Values (US$ Billion), 2011–2020

Table 62: Latvia – Number of Commercial Pay Later Cards in Circulation (Thousand), 2011–2020

Table 63: Latvia – Commercial Pay Later Card Transaction Volumes (Million), 2011–2020

Table 64: Latvia – Commercial Pay Later Card Transaction Values (EUR Billion), 2011–2020

Table 65: Latvia – Commercial Pay Later Card Transaction Values (US$ Billion), 2011–2020

List of Figures

Figure 1: Latvia – Payment Instrument Shares by Transaction Value (%), 2011 vs 2015

Figure 2: Latvia – Payment Instrument Shares by Transaction Volume (%), 2011 vs 2015

Figure 3: Latvia – E-Commerce Value (US$ Billion), 2011–2020

Figure 4: Latvia – Total Population and Structure, 2011–2020

Figure 5: Latvia – Economic Indicators, 2011–2020

Figure 6: Latvia – Number of ATMs and POS Terminals

Figure 7: Latvia – Real Household Consumption and Outbound Tourist Expenditure, 2011–2015

Figure 8: Latvia – Segmentation by Card Type, 2016

Figure 9: Latvia – Growth in Payment Card Transaction Values and Number of Cards in Circulation by Type, 2011–2020

Figure 10: Latvia – Volume and Value of Payment Card Transactions by Type (%), 2011–2020

Figure 11: Latvia – Debit Card Penetration and Cards in Circulation, 2011–2020

Figure 12: Latvia – Turnover per Debit Card and Values by Channel, 2011–2020

Figure 13: Latvia – Debit Card Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 14: Latvia – Pay Later Card Penetration and Number of Cards in Circulation, 2011–2020

Figure 15: Latvia – Turnover Per Pay Later Card and Values by Channel, 2011–2020

Figure 16: Latvia – Pay Later Cards Scheme and Issuer Shares in Terms of Transaction Value (%), 2015

Figure 17: Latvia – Pay Later Commercial vs Personal Cards, Transaction Volumes and Values (%), 2011–2020

Figure 18: Latvia – Number of Commercial Pay Later Cards, Transaction Values and Volumes, 2011–2020

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