Latvijas Banka Regulations No. 427

Riga, 19 October 2026

Regulations on the Registration of Deferred Payment Service Providers

Issued pursuant to Section 8.6, Paragraph three of the Consumer Rights Protection Law

I. General Provisions

The Regulations prescribe:

1.1. requirements for deferred payment service providers;

1.2. the procedure by which deferred payment service providers are registered in the register of deferred payment service providers (hereinafter – the register), removed from the register, or their registration is suspended;

1.3. the scope of information to be included in the register and the procedure for updating it;

1.4. the procedure for supervision of the activities of deferred payment service providers, the information to be submitted for their registration and supervision of activities, its content, scope, submission deadlines, procedure and form.

If, during the examination of an application or other documents, amendments are made to the documents to be submitted referred to in these Regulations, the applicant shall immediately submit the revised documents to Latvijas Banka.
If, in the cases specified in these Regulations, documents must be submitted which are already at the disposal of Latvijas Banka and the information contained therein has not changed, the relevant documents shall not be re-submitted and the application to Latvijas Banka shall state when the relevant documents were submitted and that the information contained therein has not changed since the time of submission.
Latvijas Banka maintains the register and ensures its public availability free of charge in electronic form.
A deferred payment service provider shall ensure the compliance of its activities with the requirements laid down in regulatory enactments throughout the period of validity of registration and the servicing of the issued credit portfolio, as well as compliance with Latvijas Banka's requirements regarding the actions to be taken to ensure the compliance of the deferred payment service provider's activities with the requirements of these Regulations and other regulatory enactments in the field of consumer rights protection.

II. Requirements for Registration of a Deferred Payment Service Provider

A deferred payment service provider shall be registered in the register if it meets the following requirements:

6.1. the deferred payment service provider is a large undertaking within the meaning of Section 1, Paragraph 26 of the Consumer Rights Protection Law;

6.2. the deferred payment service provider has developed internal procedures for the provision of consumer credit services which prescribe the granting of credits and the monitoring of issued credits, as well as the procedure by which the consumer's ability to repay the credit is assessed in accordance with Section 8 of the Consumer Rights Protection Law;

6.3. the deferred payment service provider has developed a procedure for the examination of consumer complaints in order to ensure the examination of received complaints and the provision of replies within a reasonable time period;

6.4. the deferred payment service provider has developed an internal control system for the prevention of money laundering and terrorism and proliferation financing in relation to the deferred payment service in accordance with the requirements of regulatory enactments in the field of prevention of money laundering and terrorism and proliferation financing;

6.5. the deferred payment service provider has appointed a member of the board responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing;

6.6. the member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing, as well as the shareholder (member), have not been deprived of the right to hold certain positions;

6.7. the member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing, as well as the shareholder (member), have not been convicted of an intentional criminal offence for which liability is provided for in Chapter XVIII or XIX of the Criminal Law, or the conviction has been extinguished;

6.8. the member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing, as well as the shareholder (member), have an impeccable reputation;

6.9. the deferred payment service provider has not been removed from the register during the last three years for significant or systematic violations in the field of consumer rights protection.

III. Registration of a Deferred Payment Service Provider

A deferred payment service provider shall submit to Latvijas Banka a registration application (Appendix 1). The following documents shall be attached to the application:

7.1. a reputation declaration of the member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing, as well as of the shareholder (member) (Appendix 2). If the shareholder (member) of the deferred payment service provider is a natural person, that person shall provide the said declaration. If the shareholder (member) of the deferred payment service provider is a legal person, the declaration shall be provided by the members of the board of the legal person. The said declaration regarding the shareholder (member) may also be provided by the deferred payment service provider itself;

7.2. the internal procedures for the provision of consumer credit services approved by the deferred payment service provider, which prescribe the granting of credits and the monitoring of issued credits, as well as the procedure by which the consumer's ability to repay the credit is assessed in accordance with Section 8 of the Consumer Rights Protection Law;

7.3. the procedure for the examination of consumer complaints approved by the deferred payment service provider, in order to ensure the examination of received complaints and the provision of replies within a reasonable time period;

7.4. a description of the internal control system for the prevention of money laundering and terrorism and proliferation financing approved by the deferred payment service provider in relation to the deferred payment service in accordance with the requirements of regulatory enactments in the field of prevention of money laundering and terrorism and proliferation financing;

7.5. general information for consumers in accordance with Paragraph 31 of Cabinet Regulation No. 691 of 25 October 2016, "Regulations Regarding Consumer Credit";

7.6. the information to be provided to the consumer before the conclusion of a credit agreement;

7.7. a draft credit agreement.

A shareholder (member) within the meaning of these Regulations shall be a person or several persons acting in concert on the basis of an agreement, who directly or indirectly own 25 per cent or more of the share capital of the deferred payment service provider or of the number of voting shares (stakes).
If the member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing changes, as well as the shareholders (members) or members of the board change, the deferred payment service provider shall provide Latvijas Banka with information in accordance with Sub-paragraph 7.1 of these Regulations.
If all the necessary documents have been received, Latvijas Banka shall commence the assessment. If the necessary documents have not been received, Latvijas Banka shall request additional information and explanations.
Latvijas Banka shall assess the application and take a decision within the time period laid down in the Administrative Procedure Law.
Latvijas Banka, after assessing the information at its disposal, is entitled to take a decision to refuse to register a deferred payment service provider if:

12.1. the deferred payment service provider does not meet the requirements referred to in Paragraph 6 of these Regulations;

12.2. the deferred payment service provider has not submitted the documents referred to in Paragraph 7 of these Regulations or has provided false information;

12.3. the deferred payment service provider has not, within the time period set by Latvijas Banka, complied with the instructions of Latvijas Banka referred to in Paragraph 5 of these Regulations regarding the actions to be taken to ensure the compliance of its activities with the requirements of these Regulations;

12.4. the deferred payment service provider has committed significant violations in the field of commercial activity or consumer rights protection during the last three years.

Latvijas Banka shall, no later than within three working days after the adoption of the decision on the registration of the deferred payment service provider, register the deferred payment service provider in the register and place on its website the information referred to in Paragraph 14 of these Regulations regarding the deferred payment service provider.

IV. Information to be Included in the Register and the Procedure for its Updating

The following information regarding the deferred payment service provider shall be included in the register:

14.1. name (firm);

14.2. registration number;

14.3. legal address;

14.4. the address of the website on which the deferred payment service is offered;

14.5. information on the addresses of the places of provision of the service (customer service);

14.6. the date on which the deferred payment service provider was registered in the register or removed from it.

If changes have occurred in the information referred to in Sub-paragraph 6.5, 6.6 or 6.7 of these Regulations or in the information specified in Paragraphs 1, 2 and 3 of Appendix 1 to these Regulations, the deferred payment service provider shall immediately, but no later than within seven working days after the entry into force of the relevant changes, inform Latvijas Banka thereof and submit the current information and documents.
Latvijas Banka shall update the information included in the register within seven days from the day on which the necessary information and documents confirming the changes are received.

V. Suspension of Registration of a Deferred Payment Service Provider or Removal from the Register

Latvijas Banka is entitled to take a decision on the suspension of the registration of a deferred payment service provider for up to six months or on its removal from the register if:

17.1. the deferred payment service provider does not meet any of the requirements referred to in Paragraph 6 of these Regulations;

17.2. the deferred payment service provider does not provide Latvijas Banka with the documents and information requested by it for the performance of an inspection of the activities of the deferred payment service provider or does not cooperate with Latvijas Banka in order to prevent a violation in the field of consumer rights protection;

17.3. the deferred payment service provider has not complied with a decision of Latvijas Banka for the protection of the collective interests of consumers or does not fulfil a written commitment to prevent the committed violation within a specified time period;

17.4. the deferred payment service provider has not provided Latvijas Banka with the information referred to in Paragraphs 15 and 22 of these Regulations within the specified time periods;

17.5. the deferred payment service provider significantly and systematically fails to comply with the procedure for the provision of consumer credit services, the examination of consumer complaints and the assessment of the consumer's ability to repay the credit;

17.6. the activities of the deferred payment service provider in the provision of consumer credit services do not comply with the requirements of regulatory enactments regulating consumer rights protection;

17.7. the deferred payment service provider has submitted an application to Latvijas Banka for its removal from the register;

17.8. the deferred payment service provider has provided Latvijas Banka with false or misleading information or has obtained registration by other unlawful means.

If the deferred payment service provider has eliminated the violations established in the decision of Latvijas Banka on the suspension of registration, Latvijas Banka shall take a decision on the renewal of registration within 10 working days from the day on which the deferred payment service provider has provided Latvijas Banka with all the necessary information proving the elimination of the violation.
Latvijas Banka shall, within three working days after the adoption of a decision on the suspension, renewal or removal of the registration of a deferred payment service provider from the register, send the decision to the deferred payment service provider and update the information on the website of Latvijas Banka.
A deferred payment service provider whose registration has been suspended shall not:

20.1. conclude new credit agreements with consumers;

20.2. make amendments to agreements concluded during the registration period if they are less favourable to the consumer compared to the market conditions existing at the time of offering the amendments to be made to the agreement.

The suspension of the registration of a deferred payment service provider shall not affect the fulfilment of obligations under agreements concluded during the period of registration.

VI. Regularly Provided Information

The deferred payment service provider shall prepare quarterly and submit to Latvijas Banka, respectively by 1 March, 1 June, 1 September and 1 December, the following quarterly data for supervision purposes:

22.1. the number of new credit agreements concluded with consumers in the quarter;

22.2. the total amount of credits newly issued to consumers in the quarter;

22.3. the amount of the credit portfolio of credits issued to consumers at the end of the quarter;

22.4. the volume (number and amount) of credits for which consumers have delayed payments at the end of the quarter, broken down by payment delay period.

The data referred to in Paragraph 22 of these Regulations shall be submitted by the deferred payment service provider to Latvijas Banka in electronic form in accordance with the regulations of Latvijas Banka governing electronic exchange of information with Latvijas Banka, using the electronic reporting system.
Latvijas Banka is entitled to request the deferred payment service provider to submit other information necessary for the performance of the functions laid down in regulatory enactments on consumer rights protection or for the determination of market development trends.
The deferred payment service provider shall inform Latvijas Banka of changes in the declaration referred to in Appendix 2 to these Regulations as soon as such changes become known to it. The member of the board of the deferred payment service provider responsible for the provision of the deferred payment service and for the prevention of money laundering and terrorism and proliferation financing, as well as the members of the board of the shareholder (member), have an obligation to immediately inform the deferred payment service provider of the said changes.

VII. Concluding Provisions

The requirement referred to in Sub-paragraph 7.4 of these Regulations regarding the development and submission to Latvijas Banka of the description of the internal control system for the prevention of money laundering and terrorism and proliferation financing shall enter into force on 10 July 2027.
The requirement of these Regulations in respect of the member of the board responsible for the prevention of money laundering and terrorism and proliferation financing shall enter into force on 10 July 2027.
The Regulations shall enter into force on 20 November 2026.

President of Latvijas Banka M. Kazāks

Appendix 1 to Latvijas Banka Regulations No. 427 of 19 October 2026

Registration Application of a Deferred Payment Service Provider

Information on the deferred payment service provider

Field	Entry
Name (firm)
Registration code/registration number in the Commercial Register
Legal address
Telephone number
E-mail address
Contact person:
given name, surname
telephone number
e-mail address

Information on the website(s) on which the deferred payment service is or will be offered to consumers

Website address

Information on the place(s) of provision of the service (customer service) (address(es))

Name of customer service place (if any)	Address

Attached (list all submitted documents):

Authorised official(s)

(given name, surname)

(signature*)

(given name, surname)

(signature*)

(date*)

The document requisites "date" and "signature" shall not be completed if the electronic document has been prepared in accordance with regulatory enactments on the drawing up of electronic documents.

President of Latvijas Banka M. Kazāks

Appendix 2 to Latvijas Banka Regulations No. 427 of 19 October 2026

Reputation Declaration of the Member of the Board of a Deferred Payment Service Provider Responsible for the Provision of the Deferred Payment Service and for the Prevention of Money Laundering and Terrorism and Proliferation Financing, as well as of the Member of the Board of the Shareholder (Member)

Given name, surname, personal identity number, country of residence of the member of the board of the deferred payment service provider ______

Name (firm) of the shareholder (member) ______

Amount of participation (in per cent) of the shareholder (member) in the share capital of the deferred payment service provider or the number of voting shares (stakes) ______

Given name, surname, personal identity number, country of residence of the member of the board of the shareholder (member) ______

Information to be provided regarding the last 10 years

Criterion	Complies/does not comply	Explanation (if does not comply with the criterion)
I have not been criminally convicted
I have not been administratively penalised
In commercial activity I have observed the principles of transparency, openness and cooperation in relations with supervisory or other public administration institutions
I have not been refused registration and issuance of an authorisation, granting of a licence to engage in trade, commercial activity or work in a profession, there has been no cancellation, revocation or termination of any such registration, authorisation or licence, and I have not been removed from professional bodies or associations
I have not been released from paid employment or a position of trust, fiduciary relationships or similar situations, and I have not received requests to leave a position of trust
I have not been subject to a prohibition on engaging in commercial activity imposed by a competent authority
I have not committed offences related to financial crimes, money laundering and terrorism and proliferation financing, market manipulation, insider dealing, usury and corruption
I have not violated regulatory enactments regulating taxes
I have not brought commercial companies to bankruptcy or insolvency, I have not permitted violations of consumer rights protection norms

Provider of the declaration

(given name, surname)

(signature*)

(date*)

The document requisites "date" and "signature" shall not be completed if the electronic document has been prepared in accordance with regulatory enactments on the drawing up of electronic documents.

President of Latvijas Banka M. Kazāks

Passport of the Legal Act

Name: Regulations on the Registration of Deferred Payment Service Providers

Status:

Not yet in force

not yet in force

Issuer: Latvijas Banka

Type: regulations

Number: 427 Adopted: 19.10.2026. Enters into force: 20.11.2026. Published: Latvijas Vēstnesis, 203, 21.10.2026.

OP number:

2026/203.2