Individuals in Estonia made an average of 1.1 million cashless payments per day in the second quarter of 2017. The number of payments was 7% and the turnover 8% higher than it was at the same time last year.... more
At the Estonian Payment Environment Forum yesterday Eesti Pank presented the results of a survey of the impact of the regulation on interchange fees for card payments. The survey clearly showed that the costs of card payments have fallen primarily for larger businesses.
Eesti Pank... more
It is planned that at the end of 2017, real-time payments will be introduced in several euro area countries, but Estonia has not yet fixed a date for this to happen. The experience of the United Kingdom and... more
- Three Estonian banks started to issue contactless cards in 2016 and by the end of the year they accounted for 4% of all bankcards.
- It is expected that by the end of the year 80% of all card payment... more
At a meeting today of the Estonian Payment Environment Forum in Eesti Pank, the commercial banks confirmed that interbank payments have been being made earlier in the morning since 21 November 2016. Clients can now receive payments to their accounts from another bank earlier on the mornings of... more
- Like those in the Nordic countries, payments in Estonia are mainly cashless
- The largest share of cashless payments around the world are card payments
- Cashless payments initiated in... more
- The number of domestic cashless payments is growing continuously
- Card payments account for 2/3 of all payments
- Use of cards abroad by Estonian residents is also increasing and payments were made... more
An average of one million domestic payments were made each day in the first quarter of 2016 in Estonia, with a total value of 352 million euros. The number of payments was 5.3% higher than in the first quarter... more
- The number of cashless payments made by individuals and by companies has risen steadily, though the turnover of payments has been notably more volatile
- The number of card payments by private... more
At a meeting on Thursday of the Estonian Payment Forum in Eesti Pank, the banks confirmed that companies that make bulk payments have largely finished upgrading their systems and the conditions of the Single Euro Payments Area (SEPA) will apply in full from 1 February 2016.
“By now, most... more