2014 turnover in SEB card acquiring network exceeds one billion euros

SEB in Latvia was awarded with the status of a family-friendly entrepreneur. This status is given by the Ministry of Welfare of Latvia and it demonstrates that the policies and services of the company are friendly to staff, children and families.

In 2014 the total payment card transaction turnover by clients in SEB Latvia card acquiring network has increased by 17% and for the first time exceeded one billion euros.

Payment card transaction turnover in SEB bank's point-of-sales terminal network grew by 10% in 2014, while the turnover in cash register systems increased by 26%. As a result, during last year the total turnover in SEB acquiring network reached 1.008 billion euros while in 2013 it amounted to 865 million euros.

Ieva Tetere, Vice-president of SEB Latvia: "We see that with each year our clients use payment cards increasingly often as a safe and convenient way of handling their payments. Changeover to euro has also contributed to this purpose. At the same time the network of shops and other sales points where customers are able to pay by card continues to expand. Therefore, instead of searching for bank notes and coins in their wallets, more and more clients choose a more convenient way of paying - a payment card. At the end of 2014 the card-cash transaction ratio in SEB Latvia was 37% while in Lithuania it was at 34% and in Estonia - 52%".

During 2014 more than 500 new partners joined the SEB card acquiring network to provide their customers with an opportunity to pay by card at their points of sales. In total more than 3000 sellers with more than 7000 points of sales have chosen SEB Latvia as their partner to ensure card payment functionality.