A payment gateway in Latvia connects your website, app or invoices to a merchant account, so you can accept card and mobile wallet payments and receive the funds in euros in your business bank account. Whether you run an online store in Riga, a SaaS company selling across the EU or a travel business in Jūrmala, the right set-up depends on what you sell, where your customers are and how much risk a provider sees in your business model.
QuadraPay is a merchant services partner for businesses in Latvia and across Europe. We look at your business, your website and your expected volumes, then match you with EU acquiring and processing partners whose underwriting fits your business, including high-risk industries that mainstream providers often decline. You see the full fee breakdown before you sign anything.
Merchant Accounts and Payment Gateways in Latvia: What You Get
A merchant account and a payment gateway are two parts of the same set-up. Here is what each part does.
| Component | What it does for your business |
|---|---|
| Merchant account | An agreement with an acquiring bank or licensed payment provider that lets you accept card payments and receive settlement, usually in euros, to your business account. |
| Payment gateway | Securely passes card details from your checkout, app or payment link to the acquirer, and returns the approval or decline. |
| Hosted checkout or API | A payment page hosted by the provider, or a direct integration for more control over the checkout. |
| Virtual terminal and payment links | Take payments by phone or email and send invoices. See virtual terminal and invoice payment gateway. |
| Fraud and chargeback tools | 3-D Secure, risk rules and chargeback alerts that protect your account (see below). |
| Reporting and settlement | Transaction reports, payouts on the provider’s schedule and, for high-risk accounts, any rolling reserve. |
How Customers Pay in Latvia
Latvia has used the euro since 2014, and most payments are now cashless. According to Latvijas Banka, customers made 934 million non-cash payments in 2025. Card payments were 60% of them and credit transfers 36%, and 2.3 million payment cards had been issued to individuals by the end of the year. Its spring 2026 payment survey found that 79% of payments were non-cash, and that 32% of people paid with a smartphone every day, up from 21% in August 2025.
For a Latvian business, that means:
- Cards come first. Accept Visa and Mastercard debit and credit cards, with 3-D Secure for online payments.
- Mobile wallets matter. Smartphone payments with Apple Pay and Google Pay are growing quickly, and most people under 35 already use them.
- Bank payments are common. Many customers are used to paying by bank transfer. Ask your provider whether it offers bank payment or instant payment methods alongside cards.
- Settle in euros. If you sell abroad, you can show prices in other currencies and still settle in EUR. See multi-currency payment processing.
Choosing a PSP in Latvia: What to Compare
Payment service providers (PSPs) serving Latvian merchants are either licensed by Latvijas Banka or licensed in another EU or EEA country and passported into Latvia. Before you compare prices, check that the provider is authorised and that it accepts your type of business. Then compare these points:
| Question | Why it matters |
|---|---|
| Does it accept your industry and the countries you sell to? | Many providers restrict high-risk industries or sales outside the EU. A decline later costs more time than asking first. |
| What is the full fee breakdown? | Transaction rates, per-transaction fees, monthly and gateway fees, chargeback fees and any currency conversion margin. |
| When do you get paid? | Settlement schedules vary by provider. High-risk accounts may also have a rolling reserve held for a set period. |
| Which payment methods are included? | Cards, Apple Pay and Google Pay, bank payments and recurring billing are not always on the same contract. |
| How does it integrate? | Check for a plugin for your platform, a hosted page or an API, and the quality of the documentation. |
| What are the contract terms? | Minimum term, termination fees and what triggers a review or a change in reserve. |
Because we work with multiple acquiring partners, a decline from one provider doesn’t have to be the end of the road. We can look at others that may be a better fit.
High-Risk Merchant Accounts in Latvia
Some Latvian businesses are classed as high risk because of their industry, their chargeback history or the way they sell, for example subscriptions, pre-orders or cross-border sales. Mainstream banks and payment providers often decline these businesses, or close accounts without much warning. A high-risk merchant account is set up with a provider that expects these risks and manages them with reserves, monitoring and fraud tools.
Industries that often need a high-risk set-up include:
- Online gaming and betting with a licence from the Lotteries and Gambling Supervisory Inspection (IAUI). Since 2020, banks in Latvia have had to block payments to unlicensed online gambling operators, so your licence is central to the application. See online gaming merchant accounts.
- Nutraceuticals and supplements. See nutraceutical merchant accounts.
- CBD and vape products, where product rules differ across EU countries. See CBD merchant accounts and vape merchant accounts.
- Travel and tour operators taking payment long before departure. See travel merchant accounts.
- Online coaching, courses and subscriptions. See coaching merchant accounts and subscription payment processing.
- Dating and adult content platforms. See dating merchant accounts and adult merchant accounts.
- Forex and crypto-related businesses, which providers assess against licensing and AML requirements. See forex broker payment gateways and crypto merchant accounts.
Providers look at your website, refund and delivery terms, chargeback and refund ratios, processing history and any licences your industry needs. Expect a rolling reserve or volume limits at the start, which providers may review as you build a track record. If you’ve been declined by a local provider, we may be able to help. See high-risk merchant accounts and European high-risk merchant accounts.
Payment Methods, Currencies and Integrations
Depending on the provider, a Latvian merchant account can cover:
- Cards: Visa, Mastercard and, with some providers, other card brands.
- Wallets: Apple Pay and Google Pay at checkout.
- Bank payments: SEPA transfers and, with some providers, instant bank payments. Under the EU Instant Payments Regulation, banks in the euro area must now offer instant euro transfers.
- Recurring billing for memberships and subscriptions. See recurring merchant accounts.
- Multiple currencies for customers outside the euro area, with settlement in EUR or another currency the provider supports.
Integration options usually include plugins for common platforms, a hosted payment page and an API. We work with businesses using WooCommerce, Magento, Shopify and custom builds, as well as CRM payment processing for sales teams. For Shopify stores in high-risk industries, see high-risk payment gateway integration for Shopify.
KYC Documents for a Latvian Merchant Account
Every provider verifies your business before approving an account. For a Latvian company, have these ready:
- Company registration. An extract from the Register of Enterprises (Uzņēmumu reģistrs) for your SIA, AS or individual merchant (IK), and your articles of association.
- Beneficial owners. Details of the people who own or control the company, matching your Beneficial Ownership Statement filed with the Register of Enterprises.
- ID and proof of address for directors and each significant owner.
- Business bank account in the company’s name, usually an EEA IBAN, with a bank statement or confirmation letter.
- VAT registration with the State Revenue Service (VID), if you’re registered. Registration is mandatory once turnover passes €50,000 in 12 months.
- Processing statements for the last three to six months, if you already take cards. These help with pricing and show your chargeback history.
- Your website, with clear terms, refund and delivery policies, privacy policy, prices in euros and company contact details.
- Licences where your industry needs them, such as an IAUI gambling licence.
- A business plan and volume forecast if you’re a new company with no processing history.
We help you put the application together so it’s complete before it goes to a provider. We usually reply to new enquiries within one business day. Provider underwriting typically takes a few days and varies by provider and industry.
Fraud Prevention, 3-D Secure and Chargebacks
Latvijas Banka recorded 35,000 fraudulent payments worth €10.5 million in Latvia in 2025. For merchants, fraud usually turns into chargebacks, and too many chargebacks put your account at risk.
- 3-D Secure 2. EU rules on strong customer authentication (SCA) under PSD2 require most online card payments to be authenticated by the customer’s bank. 3-D Secure also generally shifts liability for fraud-related chargebacks to the card issuer.
- Risk rules. Velocity limits, country and IP checks and device fingerprinting, where the provider offers them.
- Chargeback alerts. Services such as Ethoca and Verifi alert you to a dispute so you can refund before it becomes a chargeback. See what a chargeback alert service is.
- Clear billing. A recognisable billing descriptor and easy-to-reach customer support prevent many “I don’t recognise this payment” disputes.
See also handling chargebacks in high-risk industries.
What a Merchant Account in Latvia Costs
There is no single rate. Your price depends on your industry, volumes, average transaction value, card mix and where your customers are. In the EU, interchange on consumer cards issued in the EEA is capped at 0.2% for debit and 0.3% for credit, but card scheme fees and the provider’s own margin come on top. Business cards and cards issued outside the EEA cost more.
- Interchange-plus pricing shows interchange, scheme fees and the provider’s markup separately, so you can see exactly what you pay.
- Blended pricing is one rate for most cards. It’s simpler, but harder to compare.
- Other fees can include set-up, monthly, gateway, chargeback, refund and currency conversion fees.
- High-risk accounts usually have higher rates and a rolling reserve.
We give you a quote based on your business, with the full fee breakdown before you sign.
Looking for a Payment Institution Licence in Latvia?
QuadraPay doesn’t sell payment institution licences, licensed companies or “ready-made” licensed entities, and we don’t handle licence applications. If you want to become a licensed payment institution yourself, the process runs through Latvijas Banka under the Law on Payment Services and Electronic Money. It requires own funds of €20,000 to €125,000 depending on the services, and Latvijas Banka must be told about changes in shareholders and management, so buying a licensed company doesn’t avoid its scrutiny.
Most businesses don’t need their own licence to take payments. If you sell goods or services, a merchant account with a licensed provider is enough. If you run a marketplace or platform that takes payments for other sellers, a provider can often support you as a payment facilitator or through a marketplace solution. See marketplace payment processing and payment aggregators.
How to Open a Merchant Account in Latvia
- Tell us about your business. What you sell, where your customers are, your website and your expected monthly volume.
- Get a quote. We match you with providers whose underwriting fits your business and show you the full fee breakdown.
- Prepare your documents. We help you check your application and website before it goes to the provider.
- Provider review. The provider underwrites your application. Timing varies by provider and industry.
- Integrate and go live. You receive gateway credentials, connect your checkout and start taking payments.
Merchant Accounts in the Baltics and Across Europe
If you also trade in neighbouring markets, see our pages for Estonia, Lithuania, Finland, Poland, Sweden, Germany and the Netherlands. For businesses selling across several countries, see international merchant accounts.
Frequently Asked Questions About Payment Gateways in Latvia
What is the best merchant account in Latvia?
The best one is the account that accepts your industry, supports the payment methods your customers use and has fees and terms you understand. Compare the full fee breakdown, settlement times, reserves and contract terms, not just the headline rate.
How do I open a merchant account in Latvia?
Register your business, open a business bank account, prepare your KYC documents and website, then apply to a provider. We can help you choose providers and prepare the application.
Can a foreign-owned company get a merchant account in Latvia?
Often, yes. Providers look at where the company is registered, where its owners and customers are and where it banks. A Latvian SIA with foreign owners is common. We can’t support merchants based in India.
Do I need a Latvian bank account?
Not always. Many providers settle to any business IBAN in the EEA in the company’s name. Some require a local or EU account, so check before you apply.
Can high-risk businesses get a payment gateway in Latvia?
Yes, through providers that work with high-risk industries. Expect more checks, higher rates and possibly a rolling reserve. Licensed activities such as gambling need the right licence first.
What does a payment gateway cost in Latvia?
It depends on your industry, volumes and card mix. EU interchange caps keep the base cost of EEA consumer cards low, but scheme fees, the provider’s margin and other fees come on top. Ask for interchange-plus pricing to see each part.
Do I need 3-D Secure?
For most online card payments from EEA customers, yes. Strong customer authentication rules under PSD2 require it, with some exemptions that the provider applies.
Can I accept Apple Pay and Google Pay?
Most providers support both on online checkouts. Ask whether they are included in your contract.
Can I accept payments in currencies other than euros?
Yes, with providers that offer multi-currency processing. You can show prices in the customer’s currency and settle in EUR or another supported currency.
Do I need a PSP licence to accept payments in Latvia?
No, not to accept payments for your own goods or services. You need a merchant account with a licensed provider. A licence from Latvijas Banka is for businesses that want to provide payment services to others.
Does QuadraPay sell PSP licences or licensed companies?
No. We help businesses get set up with merchant accounts and payment gateways. We don’t sell licences or licensed companies.
Get a Quote for Your Latvian Business
Whether you run an online store in Riga, a SaaS business in Liepāja or a high-risk brand selling across Europe, tell us how your customers pay. We’ll match you with payment partners that may suit your business and give you every fee in writing before you sign. Declined elsewhere? We may be able to help. Request a quote or email info@quadrapay.com.