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Ceturtdiena 29.06.2017 | Name days: Paulis, Pauls, Pāvils, Pēteris
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2015 marked a record-high increase in the number of payment card transactions

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOver the past five years, the number of transactions carried out using payment cards in stores or online continued to grow. This is demonstrated by information compiled by SEB Bank.

The number of transactions and the size of processed payments keep increasing every year. 2015 marked a record-high increase – 34% in comparison with 2014. In total, the volume of payment card transactions recorded by SEB Bank card terminals had reached EUR 1.24 billion, which is 23% more than there was in 2014.

Over the past five years, the average value of purchases paid for using a card continued to reduce. This is largely because Latvian residents now use payment cards for smaller purchases.

The tendency of using payment cards to pay for small purchases on the Internet has been developing rapidly in the past two years: in 2015, compared with the year before, the number of such transactions had increased 27%. At the same time, according to data, the total number of purchases made on the Internet continues to decline. The same can be said about the average value of purchases. In addition, the average value of purchases made using a payment card on the Internet is usually at least four times higher than the average value of purchases made in traditional stores and service centres.

SEB Bank board member Arnis Skapars: «According to data compiled for 2015, SEB Bank installed a total of 6,423 card payment terminals. Internet card processing services were established for 182 traders. In order to provide card payment processing services, it is first important to accurately assess costs and benefits for the trader. What we see now is that more and more small retail traders make decisions in favour of payment card services. This is why the argument that payment card service is an advantage only for large trade networks no longer applies. The fact that the average payment amount is higher if made on the Internet, points to the fact that the tendency when residents are provided with better prices online still stands. People value this very much. Now they make purchases important to their household more often online.»

«The next important step to further increase convenience would be to introduce contact-free cards. In order to do this, however, it is first necessary to provide traders with appropriate card terminals. SEB Bank already offers its corporate clients such terminals,» – notes Arnis Skapars.

Ref: 102.109.109.7863


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