The Central Bank of Latvia announced that SIA xpate, a Latvia-licensed electronic money institution, has become the first non-bank payment service provider to participate directly in the Electronic Clearing System (EKS) operated by the central bank, initially using its clearing service. The move positions the Central Bank of Latvia as the first central bank in the euro area to provide direct access for non-bank payment service providers to a central bank-operated payment system. Access for licensed payment institutions, electronic money institutions and credit unions has been available since 17 October 2024, with the stated aim of creating equal opportunities for Latvian payment service providers and supporting the development of payment services. EKS supports customer payments across the Single Euro Payments Area and offers both clearing and instant payment services, which have previously been used by credit institutions and the Treasury. The access model reflects the European Central Bank decision on non-bank payment service provider access to payment systems and was enabled by amendments adopted by the Saeima. Payment service providers seeking to join EKS must enter into an agreement with the Central Bank of Latvia, ensure technical readiness and complete testing.
Central Bank of Latvia 2025-04-11
Central Bank of Latvia admits SIA xpate as the first non-bank participant in its EKS payment system
The Central Bank of Latvia announced SIA xpate as the first non-bank payment service provider to directly participate in its Electronic Clearing System (EKS). This makes the Central Bank of Latvia the first in the euro area to offer such access, aligning with the European Central Bank's decision on non-bank access to payment systems. The initiative aims to create equal opportunities for Latvian payment service providers and support payment service development.