Despite the growing prevalence of digital payment methods across Europe, cash continues to dominate daily transactions for a significant portion of Latvia’s population. According to recent findings highlighted by LSM, many Latvians still prefer using physical currency for everyday purchases, citing reasons ranging from habit and convenience to concerns about privacy and security. This article explores why, in an increasingly digital economy, cash remains king in Latvia and what this means for the country’s financial landscape.
Cash Usage Persists Despite Growing Digital Payment Options
Despite the rapid expansion of digital payment systems across Latvia, a significant portion of the population continues to rely heavily on cash for everyday transactions. Many consumers cite reasons such as privacy concerns, habit, and limited access to advanced banking technology as key factors influencing their preference. Small businesses and rural areas, in particular, demonstrate a strong…
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Author : Isabella Rossi
Publish date : 2025-07-08 05:02:00
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