There have been 265.1 million non-cash funds made by clients, totalling 87.zero billion euros, within the first half of 2020 in response to knowledge launched by the Latvian central bank (LB) on august 25. This averages 1.5 million funds worth 477.9 million euro per day.
The entire quantity of non-cash funds made by clients decreased by 3.3%, however the complete value of the funds decreased by 14.7% as compared with the second half of 2019.
“In the summertime months, financial exercise improved and the value of card funds elevated; within the first half of the yr general, nevertheless, the value of card funds – the most well-liked kind of fee with most people – declined for the primary time because of the disaster attributable to the COVID-19 pandemic. Tourism was hit significantly onerous by the COVID-19 pandemic, as evidenced by a greater than 30% decline within the value of card funds made in different currencies, and an virtually 40% fall within the quantity of card funds made at terminals overseas,” mentioned Edīte Gailiša, LB’s fee knowledgeable.
The preferred buyer non-cash funds have been card funds and buyer credit score transfers, constituting 64.9% and 33.9% of the overall quantity of non-cash funds respectively.
To make sure card funds, 2.2 million fee playing cards have been issued by the Latvian fee service suppliers as on the finish of the primary half of 2020 (1.2 playing cards per capita on common), and most of them have been playing cards with a debit operate.
41,700 factors of sale (POSs) and 912 ATMs have been accessible to the general public. On the finish of the primary half of 2020, the variety of buyer fee accounts opened by the Latvian fee service suppliers totalled 3.3 million or 1.7 fee accounts per capita on common.
8.9 million on the spot funds amounting to 1.9 billion euro have been processed within the first half of 2020.
An in depth report on the operation of interbank fee techniques, improvement of fee devices and different areas very important for non-cash funds is accessible on Latvijas Banka’s web site: https://www.bank.lv/en/statistics/stat-data/payment-systems-statistics.
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