At the initiative of the working group set up at the Estonian Payments Forum, the banks will soon be bringing new payment services to market. In the working group are Eesti Pank, the largest commercial banks, merchants and consumer representatives. By the end of 2019 at the latest it will be... more
The functioning of payment and settlement systems is important for maintaining the stability of the national economic and financial system, avoiding interruptions to the circulation of currency, and allowing monetary policy to be implemented smoothly. Private individuals, businesses and public... more
The volume of online shopping that Estonian residents did in the first quarter of 2019 was up one fifth on the first three months of the previous year. Considering the experiences of other European countries... more
The Estonian Payment Forum was set up in 2012 by a tripartite agreement between Eesti Pank, the Estonian Banking Association and the Ministry of Finance.
The Estonian Payment Forum works with market participants to support the balanced and sustainable development of the Estonian... more
There were 751 ATMs in Estonia at the end of 2018, which is some 200 fewer than a decade earlier. Residents of Estonia were also able to withdraw cash from 350 Coop shops and 82 Olerex service stations, and... more
From today the commercial banks operating in Estonia will be able to join TIPS (TARGET Instant Payment Settlement) through Eesti Pank. TIPS is an instant payment system developed by the central banks of the euro area at the initiative of the European Central Bank. Like other pan-European instant... more
From today, SEB and Swedbank clients will be able to make instant payments, and by the end of the year so will clients of LHV Pank. More than 100,000 interbank payments a day in Estonia will be made within ten seconds rather than a couple of hours, round the clock and throughout the year.... more
The payments market consists of payment and securities settlement systems and methods of payment.
Developing the payment market is a responsibility of Eesti Pank. The payments market consists of payment and settlement systems and methods of payment. Monetary payments are made in the... more
An average of 917,000 card payments a day were made in the third quarter with bank cards issued in Estonia, and at least one payment in ten was contactless. An average of 108,000 contactless payments a day were... more
In the second quarter of 2018, an average Estonian aged 15 or over made 24 card payments a month, 22 of which were made in Estonia and two abroad. Finland accounted for a quarter of all card payments made abroad with Latvia coming... more