Performance indicators of e-money institutions and payment institutions remain on an upward trend

In the first half of the year, 2 new licences were issued to electronic money institutions AP OPERATIONS SIA and SIA Pace FS. At the same time, following a request from SIA RĪGAS KARTE, its registration in the register of electronic money institutions was cancelled.

The segment’s total gross revenue from payment and electronic money services rose to EUR 5.4 million (including EUR 2.8 million for electronic money institutions and EUR 2.7 million for payment institutions), maintaining a steady upward trend. This marks an 11.6% increase compared to the first half of 2024, supported by an expanded range of services and greater customer activity.

The volume of payments made in the first six months of 2025 (excluding electronic money transactions) reached EUR 244.6 million. This reduction was mainly driven by changes in the structure of serviced customers and the payment channels used. Given the small number of market participants, these shifts in the activities of individual market participants affected the overall indicators of the entire segment.

The circulation of electronic money continued to grow, with the average amount of electronic money in circulation reaching EUR 6.2 million – the highest level in five years. Meanwhile, the volume of payments made with electronic money amounted to EUR 23.8 million – a threefold increase over four years.

At the end of June 2025, the volume of liquid assets stood at EUR 59.7 million. Over the past two years, the bulk of these assets have consisted of claims against banks for the provision of payment services as well as investments in debt securities.