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Accelerate your revenue with a new audience of customers throughout Latvia - without friction or complexity.
It’s one of three core countries that make up the Baltic sea region of Central Europe. A small country, Latvia has passed through the post-Soviet transition to establish democracy and rule of law, including membership in the EU.
Ecommerce is projected to top $3 billion by the end of 2020; over half of Latvians will have made an ecommerce purchase by the end of the year. Ecommerce revenue is expected to show an annual growth rate of 5.1%, resulting in a projected market volume of $421 million by 2025. The market’s largest segment is fashion with a projected market volume of $137 million in 2021.
The average revenue per user is expected to be $328.62.
Available currencies will depend on the payment method provider, as well as any regulatory restrictions.
Digital River can support the sales of these types of products for this specific market.
The Onshore Advantage™
Go global, be local. The Onshore Advantage™ optimizes your authorizations and eliminates unexpected foreign transaction fees. Learn more.
Strong credit and debit card use; bank transfer and cash widely used. Most digital wallet or payment gateway is available to international brands that want to do business in Latvia.
The list below represents the current categories of payment options Digital River supports for this market.
Cross-Border Fulfillment: Landed Cost is Available.
Calculation of duties and fees incurred when goods are shipped cross border.
In-Country Fulfillment: Not available