The Bank of Latvia determines the registration procedure for deferred payment service providers

The Bank of Latvia has issued Bank of Latvia Regulations No. 427 “Regulations on the Registration of Deferred Payment Service Providers”. The notice was published in the official publication “Latvijas Vēstnesis” on October 21, 2026, No. 203, with the official reference OP 2026/203. In the content of the publication, the regulations are included in the INSTITUTIONS section as the second entry — immediately after the President of Latvia’s information regarding the taking of the judicial oath.

Registration as a Condition for Market Access

The subject of the regulations, as formulated in their title, is the registration of deferred payment service providers. This is the formal stage in which a merchant obtains an entry in the supervisory authority’s register and, consequently, the right to provide such services under permanent supervision.

Deferred payments, or so-called “buy now, pay later” solutions, are a payment services segment in which a consumer purchases a product or service and settles the payment later, often interest-free over a short term. Until now, this segment in Latvia was on the boundary between payment services and consumer credit regulation; therefore, establishing the registration procedure is a significant step in incorporating this market into a unified supervisory system.

Regulations are Part of the Bank of Latvia’s Legal Acts Series

Bank of Latvia Regulations No. 427 is not an isolated act, but continues a series of Bank of Latvia regulations published in the autumn of 2026:

• Bank of Latvia Regulations No. 424 — amendments to the December 19, 2022 Regulations No. 236 “Bank of Latvia Payment Services Price List in the Field of Cash”, published on September 17, 2026, No. 179 (OP 2026/179).
• Bank of Latvia Regulations No. 425 — amendments to the November 27, 2023 Regulations No. 259 “Regulations on the Licensing of Credit Institutions, the Issuance of Individual Permits, and the Provision of Information”, published on September 30, 2026, No. 188 (OP 2026/188).
• Bank of Latvia Regulations No. 426 — amendments to the December 18, 2023 Regulations No. 266 “Regulations on the Application of Options Provided for in Directly Applicable European Union Legal Acts on Prudential Requirements”, published in the same September 30 issue.
• Bank of Latvia Regulations No. 427 — regulations on the registration of deferred payment service providers, published on October 21, 2026, No. 203 (OP 2026/203).

The numbering shows that the new act is the fourth Bank of Latvia regulation number in less than a month — the supervisor is simultaneously refining both licensing and prudential requirements, while adding a new subject for registration.

Consumer Credit Regulation is Also Moving in Government

Parallel to the central bank’s acts, the Cabinet of Ministers’ regulation related to consumer lending also changed in September. On September 22, 2026, No. 182 (OP 2026/182), the following were published:

• Cabinet of Ministers Regulations No. 542 — amendments to the Regulations No. 772 of December 13, 2016, “Registration Regulations for Credit Intermediaries and Representatives of Credit Intermediaries”.
• Cabinet of Ministers Regulations No. 543 — amendments to the Regulations No. 691 of October 25, 2016, “Regulations on Consumer Lending”.

Both acts affect the same field in which deferred payment providers operate: the registration of credit intermediation and consumer lending regulations. Together with the Bank of Latvia Regulations No. 427, this constitutes a simultaneous regulatory update on three levels — legislative executive, credit institution supervision, and payment service registration.

What this means for market participants and users

For deferred payment service providers, the existence of registration regulations means that starting operations in this segment is no longer just a commercial decision, but also a matter of compliance — with a specific submission and evaluation procedure determined by the supervisor, rather than the market participant themselves.

For consumers, this provides a verifiable criterion: the service provider’s presence in the Bank of Latvia register is a signal that the company has notified its activities and is within the scope of supervision. For those who use “buy now, pay later” solutions for everyday purchases, this is the first question worth asking before using the service.

The full text of the regulations is available in the official publication “Latvijas Vēstnesis” in the issue No. 203 of October 21, 2026, in the INSTITUTIONS section, with the official reference OP 2026/203.

Official source: Bank of Latvia Regulations No. 427 “Registration Regulations for Deferred Payment Service Providers”, published in “Latvijas Vēstnesis” on October 21, 2026, No. 203, official reference OP 2026/203; issuing authority — Bank of Latvia.