Are you looking for Best Payment Gateways in Latvia? If Yes, You are at the right place.
Running a business in Latvia today means keeping up with how quickly things are moving online. More people are shopping on the internet, and businesses need simple, secure ways to get paid. That’s where choosing the right payment option comes in.
Whether you’re just starting out or already selling across Europe, having a smooth and trustworthy system for accepting payments can really make a difference. In this article, we’ve rounded up some of the best payment gateways in Latvia to help you find the one that fits your business needs.
All About Latvia
Latvia, nestled in Northern Europe, blends rich traditions with a fast-moving digital economy. Its capital, Riga, stands out as a center of business and innovation, highlighting the country’s push toward digital growth. As more people shop online and internet usage continues to grow, Latvia has become an exciting space for e-commerce. This shift makes it essential for businesses to have reliable and secure ways to accept payments online. If you’re a smaller business just getting started, checking out the Best Payment Gateways for Small Businesses is a smart move to ensure your checkout process runs smoothly from the beginning.
What Are Payment Gateways?
A payment gateway is a service that processes online payments, acting as a bridge between the customer and the merchant. It ensures that payment information is transmitted securely, authorizes transactions, and completes the transfer of funds from the buyer’s account to the seller’s account.
Payment gateways can process various payment methods, including credit cards, debit cards, and digital wallets, making them indispensable for online businesses.
How Do Payment Gateways Work?
- Transaction Initiation: The customer selects products or services and proceeds to checkout on the merchant’s website or app.
- Data Encryption: The payment gateway encrypts sensitive payment information to prevent unauthorized access.
- Authorization Request: The encrypted data is sent to the acquiring bank, which forwards it to the relevant payment processor or card network (e.g., Visa, Mastercard).
- Approval/Decline: The card issuer reviews the request and either approves or declines the transaction based on factors such as available funds and fraud checks.
- Completion: If approved, the payment gateway notifies both the customer and the merchant, and the funds are transferred to the merchant’s account.
Why Do We Need Payment Gateways in Latvia?
Latvia’s growing digital economy demands efficient and secure payment solutions. Payment gateways are essential for:
- Ensuring Secure Transactions: Advanced encryption and fraud detection mechanisms safeguard customer data.
- Facilitating Global Trade: Businesses can accept payments from international customers, expanding their market reach.
- Improving User Experience: Fast and convenient payment options enhance customer satisfaction.
- Regulatory Compliance: Gateways ensure adherence to local and global standards like PCI DSS.
- Efficiency in Operations: Automated payment processing reduces manual effort and minimizes errors.
Top 10 Best Payment Gateways in Latvia
Here are the list of Top 10 Best Payment Gateways in Latvia…..
Paysera
Paysera is one of the most popular and accessible payment solutions in Latvia and across the Baltics. It’s especially well-suited for small to medium-sized businesses looking for a simple and cost-effective way to accept payments online. Paysera allows merchants to accept bank transfers, card payments, and even mobile payments, making it a versatile option for local and international transactions.
What makes Paysera stand out is its regional focus. It integrates seamlessly with banks in Latvia, Lithuania, and Estonia, which means faster and more reliable transfers. On top of that, it offers multi-currency support, allowing businesses to operate across borders without hassle.
Features:
- Low fees,
- multilingual support,
- local and international payments.
Pros:
- Low transaction fees.
- Wide range of supported currencies.
- Multilingual support enhances usability.
- Robust security measures.
Cons:
- Limited advanced features for large enterprises.
- Customer support may be slower during peak times.
Best For: Small to medium-sized enterprises (SMEs).
Montonio
Montonio is a Baltic-based payment gateway that’s quickly becoming a popular choice for merchants in Latvia and other nearby countries. Designed specifically for the region, Montonio helps businesses accept payments directly from customers’ bank accounts using secure open banking technology. It focuses on simplicity, low fees, and an easy checkout experience, making it ideal for small and mid-sized e-commerce stores.
Key Features:
- Direct bank payments via open banking
- Instant payment confirmation
- No need for a merchant account
- Simple plugins for Shopify, WooCommerce, and others
Pricing:
- Flat fee per transaction, typically lower than traditional card fees
- No setup or monthly fees
Pros:
- Very low transaction costs
- Fast settlements and real-time payment confirmation
- Easy to integrate for Baltic merchants
Cons:
- Still expanding its features compared to larger providers
- Limited to bank payments (no card processing)
Stripe
Stripe is a favorite among tech-driven companies and online businesses globally, and it’s also available for merchants in Latvia. Known for its powerful API and modern interface, Stripe is perfect for businesses that need flexibility and advanced tools for scaling their operations.
It supports almost every major credit card, mobile wallet, and even localized payment methods. Stripe is particularly useful for subscription-based services, SaaS platforms, and online marketplaces due to its robust recurring billing system.
Features:
- Developer-friendly API,
- support for multiple currencies,
- global acceptance.
Pros:
- Highly customizable with extensive API support.
- Wide range of integrations with other platforms.
- Supports international payments.
Cons:
- Higher fees compared to some local gateways.
- May require technical expertise for setup and integration.
Best For: Tech-driven startups and large enterprises.
SEB Gateway
SEB Gateway is designed for merchants with SEB accounts, offering seamless integration and robust security. It ensures fast and secure transactions for businesses operating in Latvia.
Features:
- Seamless integration with SEB accounts,
- robust security.
Pros:
- Ideal for SEB account holders.
- Strong focus on security.
- Reliable and fast transaction processing.
Cons:
- Limited global functionality.
- Restricted to businesses banking with SEB.
Best For: Merchants with SEB bank accounts.
Mollie
Mollie has grown rapidly in Europe and is now a trusted payment gateway for Latvian businesses looking for a beautiful, straightforward, and powerful checkout experience. It supports a wide range of payment methods including Visa, Mastercard, PayPal, Apple Pay, and even Klarna.
What makes Mollie appealing is that it offers all of this without locking users into contracts or charging setup fees. It’s also built with non-technical users in mind, so setting up is fast and easy—even for beginners.
Features:
- Easy integration,
- transparent pricing,
- broad payment method support.
Pros:
- Transparent and competitive pricing.
- Easy integration with popular e-commerce platforms.
- Supports multiple payment methods.
Cons:
- Limited advanced features for larger businesses.
- Customer support availability could be improved.
Best For: Startups and SMEs.
MakeCommerce (Maksekeskus)
MakeCommerce, by Estonian provider Maksekeskus, is designed specifically for merchants in the Baltics, making it one of the most regionally tailored solutions available in Latvia. It connects to all major Baltic banks and offers a smooth, familiar checkout experience for local customers.
Key Features:
- Seamless integration with Baltic banks
- Plugin support for WooCommerce, Shopify, Magento
- Simple refund process
- Daily payouts to merchant accounts
Pricing:
- Custom pricing depending on business volume
- Bank link fees range from 0.3% to 1%
Pros:
- Strong local bank integrations
- Ideal for domestic sales
- Local customer support
Cons:
- Limited international expansion options
Nets
Nets is a Nordic-based payment solution that’s well-established in Latvia and other European markets. It’s trusted by many large businesses for both in-store and online transactions. Nets offers everything from card payments to mobile wallets, and its services are compliant with the latest EU standards.
Key Features:
- Full-service payment processing
- Fraud protection and risk management
- POS and e-commerce integrations
- Mobile payment options
Pricing:
- Custom quotes based on business needs
- No public pricing; typically higher for enterprise features
Pros:
- PCI-DSS compliant
- High reliability and security
- Well-suited for larger retailers
Cons:
- Higher pricing structure
PayPal
PayPal is one of the most recognized online payment platforms in the world. It’s widely used in Latvia and is often the go-to choice for freelancers, small online stores, and businesses selling internationally. Customers trust the PayPal brand, which can help increase conversion rates at checkout.
Key Features:
- Accepts card payments and PayPal balance
- Easy invoicing and payment links
- Buyer and seller protection
- Global reach
Pricing:
- Domestic transactions: 2.9% + €0.35
- Cross-border fees: Up to 4.4%
Pros:
- Global trust and recognition
- Easy to integrate
- Wide currency support
Cons:
- Higher transaction and currency conversion fees
Skrill
Skrill offers a digital wallet and payment gateway solution that works well for international businesses and digital services. It’s popular in the iGaming, freelance, and e-commerce sectors, and supports over 40 currencies.
Key Features:
- Wallet-based transactions
- Multi-currency support
- Easy checkout integration
- Prepaid card option
Pricing:
- 1.9% + €0.29 per transaction
- Currency conversion: Up to 3.99%
Pros:
- Multi-currency support
- Easy account setup
- Works well for international users
Cons:
- Limited e-commerce integrations compared to competitors
TrustPay
TrustPay is a regulated European payment provider that serves merchants across the EU, including Latvia. It provides a mix of card and bank transfer options, along with fraud prevention and recurring billing support.
Key Features:
- PCI-compliant infrastructure
- SEPA and SWIFT payments
- Real-time reporting dashboard
- Recurring payments
Pricing:
- Custom plans available on request
Pros:
- EU-regulated and compliant
- Supports SEPA and card payments
- Good for recurring billing
Cons:
Limited user-friendliness for beginnerssses.
How Do I Choose the Best Payment Gateway in Latvia?
When selecting a payment gateway, consider the following factors:
- Business Requirements: Understand your business model, target audience, and transaction volume.
- Integration: Ensure compatibility with your website or app platform.
- Cost: Evaluate transaction fees, setup charges, and any hidden costs.
- Security Features: Look for PCI DSS compliance, encryption, and fraud prevention measures.
- Customer Support: Choose a provider with reliable and responsive support services.
Advantages & Disadvantages of Payment Gateways in Latvia
Here are the Advantages & Disadvantages of Payment Gateways in Latvia..
Advantages
- Enhanced security and fraud prevention.
- Support for diverse payment methods.
- Scalability for growing businesses.
- Faster transaction processing.
Disadvantages
- Fees may be high for small businesses.
- Integration can be complex for non-technical users.
- Dependency on stable internet connectivity.
FAQs
What Payment Gateway Is Best for Small Businesses in Latvia?
Paysera and Mollie are great options for small businesses thanks to their low fees, quick setup, and local support. They’re especially beginner-friendly and come with simple tools for daily transactions.
Do These Gateways Support International Payments?
Yes. Stripe, PayPal, Skrill, and Checkout.com all support cross-border transactions, which is helpful if you plan to sell across Europe or globally.
Which Gateways Offer Local Bank Integrations in Latvia?
MakeCommerce and Paysera provide seamless integrations with Latvian banks like Swedbank and SEB, allowing for smooth bank transfers.
Can I Accept Payments in Euros and Other Currencies?
Absolutely. Most of these gateways, including Skrill, Stripe, and TrustPay, offer multi-currency support to help you cater to international customers.
Are These Gateways Secure and EU Compliant?
Yes. All of the providers listed follow strict EU regulations such as PSD2 and GDPR, ensuring your transactions and customer data remain protected.
What’s the Easiest Payment Gateway for Beginners?
Mollie and PayPal are particularly beginner-friendly. They require little technical knowledge and can be set up in just a few hours.
Conclusion
Finding the right way to accept payments is a key part of running a successful online business. In Latvia’s growing digital market, a smooth and secure checkout experience can make all the difference. Take time to choose a solution that fits your goals, supports your customers’ needs, and helps your business grow with confidence.
