Development of Payment Cards in Latvia

World’s experience shows that due to the growing number of payments more and more attitude is paid to non-cash payments. As one of the most popular and effective non-cash means of payment is considered a payment card.
Card holders have long ago realised that a payment card is not an exclusive instrument of payment and means of settlements only for large or more expensive purchases. Now it is seen for people as a convenient, secure and benefical means of payment. It is fit for any everyday purchases at any place where payment cards are accepted - and the number of these places in Latvia has reached more than eight thousand.
Objective of this work is to introduce payment card business in Latvia and to describe different types of cards – debit, credit and smart cards.
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