Instant Links (zibmaksājumi proxy registry)National proxy registry linking phone numbers to IBANs, operated by Latvia’s central bank, with an instant request-to-pay service and a payee verification service (Instant Verification Service). A rare case of a proxy directory run as a public good rather than a private scheme.Latvijas Banka · since 2021
Global registry · Europe · Northern Europe
Latvia Payment systems
2 systems listed.
This country doesn’t have a written market analysis yet: e-commerce shares, regulator, and key players are still to be documented. The systems below, however, are verified.
IBAN · Latvia
21 charactersSEPA area25 bank codes68 BIC codes
- Total length
- 21 characters
- Bank code position
- 5–8
- BBAN structure
4!a13!c
Structurally valid example
LVcountry code80check digitsBANKbank0000435195001account
LV80 BANK 0000 4351 9500 1
Learn about this market. The guides and courses that cover it.
Merchant, acquirer, PSPPayment regulationCentral banks and payment infrastructuresAgents, distributors, and banking-as-a-service: who is liable for whatPayments in the BalkansPayments in the Baltics and FinlandAccepting payments in Germany, Austria, and SwitzerlandAccepting payments in Spain and PortugalChoosing a jurisdiction for your payment institutionAccepting payments in the Netherlands and BelgiumAccepting payments in the NordicsAccepting payments in Poland and Central Europe
Instant payments
Clearing and settlement
EKS (Elektroniskā klīringa sistēma)Latvia’s clearing system, operated by the central bank, which handles customer payments, including instant payments. Latvia is one of the few countries where the central bank runs both the clearing system and the proxy registry.Latvijas Banka · since 1998126.3 million SEPA credit transfers worth €202 billion processed in the EKS in 2024, up 5.0% in number and 4.3% in value, including 72.4 million instant payments worth €33.2 billion and up to 400,000 instant payments a day (Latvijas Banka, 2024 annual report)