The Central Bank of Latvia’s autumn 2026 Payment Radar found that noncash payments reached a record 81% of payments in August, up from 79% in February 2026 and 58% when measurement began in 2017. Adults made an average of 16.1 payments a week, comprising 13 noncash and 3.1 cash transactions. Smartphone payment use also reached a record 34%, while instant payment use remained broadly stable at 41%. Satisfaction with access to cash from bank accounts fell to 75% from 79% in February, although most survey responses preceded the August storm and therefore did not capture its effects. The storm exposed dependencies between electricity, communications, retailers and financial infrastructure. Seventy-seven of 94 critical ATMs remained operational, but some machines in shopping centers were inaccessible, while several hundred offline card payments were completed. The central bank has proposed essential services centers at retail outlets or petrol stations where people could buy necessities, make offline card payments and access cash. It also recommends that households hold enough cash in small denomination banknotes to cover one week of needs. The report also reviewed prospective changes to Europe’s payment infrastructure. Political agreement on the digital euro regulation is hoped for later in 2026, which could allow the European Central Bank to decide whether to proceed with pilot projects by year-end, ahead of a planned 2029 introduction. Separately, the ECB is expected to select a design for the next series of euro banknotes by the end of 2026, but no decision has been made on issuance timing or technical arrangements.

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