Payment Card Transactions Increased by 10%

Added: 10.06.2016
Within a year, the number of transactions with payment cards that are issued by Latvian banks has increased by 10%, as shown by data summarised by Association of Latvian Commercial Banks (ALCB). The number of the transactions with payment cards in the first quarter of 2016 was 68.8 million amounting to the total sum of 2.34 billion euros.
When compared to the first quarter of the last year, the number and amount of purchases made by payment cards has increased, while cash withdrawal has decreased. During the first three months of 2016, the cards were used for 56 million purchases, which is by 13% more than in the 1st quarter of the last year. The total purchase sum — 1.06 billion euros. Cash was withdrawn 12.7 million times, i.e., by 3% less than in the previous year. The total sum of the cash withdrawal transactions was 1.28 billion euros.

There is still a small proportion of cash withdrawals using payment card terminals — within the quarter, 72 thousand withdrawals have been performed amounting to 2.19 million euros. When compared to the last year, growth of the number of transactions has been insignificant — by 0.2%, while their amount has increased by 4%.

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