Payments made by Latvian payment institutions and electronic money institutions increased by 3% in H1 2021

11.08.2021
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The Financial and Capital Market Commission (FCMC) collected data on the Latvian payment institutions (PI) and electronic money institutions' (EMI) performance in the first half of 2021. Sector consolidation stalled during that period, with the total amount of payments made by PI and EMI, including e-money, amounting to EUR 159.7 million, 3% more than in H1 2020.

The amount of payments made by PI remained at the level of the first half of the previous year, while the amount of payments made by EMI (including e-money) increased by 17%. The average amount of e-money in circulation, compared 30.06.2020, increased by 3% and reached EUR 4.1 million. Whereas the amount of repurchased e-money shrank by 6% – to EUR 7.5 million, indicating growing popularity of this type of money.

PI and EMI gross revenue from the provision of services in the first half of 2021 reached EUR 5 million, which was 11% less than in the first half of 2020. The amount of liquid assets increased by 12% compared to 30.06.2020 and fully covered market participants’ liabilities to customers.

On 30.06.2021, seven PI operated in Latvia, of which two were registered and five licensed, and eight EMI, of which six were registered and two licensed in Latvia.

Please find the infographic regarding the Latvian EMI and PI performance indicators in H1 2021 at: https://www.fktk.lv/wp-content/uploads/2021/08/ENI_MI_infografika_2021_06_ENG.pdf.

 

For further information:
Dace Jansone
Head of Communications and Financial Literacy Division
Financial and Capital Market Commission
Phone: +37167774808
E-mail: dace.jansone@fktk.lv

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