Latvia reaches record 81% cashless payment share

In August 2026, the proportion of cashless payments in Latvia reached a record high of 81%, while cash payments fell to 19%. This data was released in the autumn 2026 'Payment Radar' report by the Bank of Latvia.

Since the first measurement in February 2017, when cashless transactions accounted for 58% of payments, the share of digital transactions has steadily increased. On average, a resident performed 16.1 transactions per week in August 2026, consisting of 13 cashless and 3.1 cash transactions. Detailed analysis shows that an adult resident performs an average of 8.2 card payments, 4.8 internet payments, and 3.1 cash payments weekly.

Mobile phone payments have also reached a record level, with 34% of the population using them, a trend most prevalent among those under 34 years old. Additionally, instant payment usage remains stable at approximately 41%.