The Central Bank of Latvia released its autumn 2025 Payment radar, a survey-based snapshot of payment habits, showing that non-cash payments accounted for 74% of payments in Latvia in August 2025 versus 26% cash. The update points to cash usage recovering towards the August 2023 level after the record-high non-cash share of 78% recorded in February 2025. Based on a public survey conducted by SIA Latvijas Fakti, the radar puts average weekly payments per capita at 17.9 in August 2025, including 13.3 non-cash and 4.6 cash payments. Regular use of contactless cards fell to 58% from 62% in February 2025 and 67% in August 2024, while smartphone payments dropped to 20% from 24% and 22% respectively; 2% used a smartwatch for payments in February 2025. Daily use of instant payments was 38% in August 2025 versus 34% in February 2025, and 22% of regular instant-payment users who were aware of the phone-number option used it, while 41% were aware but had not yet used it. Commentary highlights work on payment resilience, including the roll-out of offline card payments with market participants to support purchases of basic goods at designated merchants during temporary card-infrastructure disruptions, and frames a potential digital euro as an additional offline-capable option if introduced. The release also summarises European Central Bank work on a third series of euro banknotes, with designers expected to be selected in October, the design competition ending in June 2026, and the ECB Governing Council set to announce the final design by the end of 2026. Separately, it reiterates Bulgaria’s planned euro adoption from 1 January 2026 at a fixed rate of BGN 1.95583 per EUR 1, including one month of dual circulation and commission-free cash exchange via the central bank, commercial banks and post offices for six months after conversion.

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