Concise Analysis of New Opportunities in Latvia's Cards and Payments Industry

Feb 13, 2014, 16:00 ET from Research and Markets

DUBLIN, February 13, 2014 /PRNewswire/ --

Research and Markets ( has announced the addition of the "Concise Analysis of New Opportunities in Latvia's Cards and Payments Industry" report to their offering.

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In terms of number of cards in circulation, the Latvian card payments channel grew at a CAGR of 0.21% during the review period, from 2.65 million in 2008 to 2.67 million in 2012. The growth of the channel was supported by the improved banking infrastructure, significant internet and smartphone penetration, and growth of payment cards such as debit, prepaid and charge cards.

Debit cards will remain the fastest-growing card category over the forecast period. In terms of number of cards in circulation, the category constituted 70.0% of the overall card payments channel in 2012. Its share is expected to increase to 54.0% by 2017. The debit card category is expected to grow at a CAGR of 0.78% over the forecast period.

According to the World Travel and Tourism Council's 2013 figures, total expenditure on outbound travel in Latvia declined from LVL607.4 million in 2008 to LVL428.1 million following the eurozone crisis. Total expenditure on outbound travel, however, rose from LVL428.1 million in 2010 to LVL539.5 million in 2012. In Latvia, banks have increased the issuance of globally accepted credit and debit cards to meet cardholder requirements.

According to Statistics Latvia, in 2011, there was a rise in online shopping as 14.1% of internet users in the country purchased products and services online.

Key Topics Covered:

1 Executive Summary
2 Industry Attractiveness and Future Prospects of the Cards and Payments Industry
3 Analysis of Latvia's Cards and Payments Industry Drivers

4 Emerging Consumer Attitudes and Trends

5 Competitive Landscape and Industry Dynamics

6 Strategies Adopted by Key Players

7 Industry Size and Growth Potential of Card Payments Channel

8 Company Profiles, Products and Marketing Strategies

9 Appendix

Companies Mentioned:

  • Baltic International Bank
  • Citadele
  • Danske Bank
  • SEB Bank
  • Swedbank

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SOURCE Research and Markets