Mobile Payments in Latvia

Latvia: General Information

Population:

2,291,000 (2006)

Currency:

LVL (1 LVL = ~1.37 EUR)

More info:

Latvia

Mobile operators:

Tele2, LMT, Bite

Mobile Operators Market Share

Billing:

MT-billing

Price (LVL) incl. VAT	0.36	0.77	0.98	1.50	2.57
Price (LVL) excl. VAT	0.30	0.64	0.81	1.24	2.12
Mobile Payments / Premium SMS API In-App Payments for Android FortuMoPay	50%	50%	50%	50%	50%
SMS-info SMS-campaign	40%	40%	40%	40%	40%

For Tele2 prepaid cards the revenue share is 10% lower than shown above

The table above shows your revenue after the operator's share, Fortumo commission and the costs of sending the users a reply SMS

Mobile operator takes a revenue share on each transaction for handling billing, collecting money and covering credit risk. The operators then pay the remaining money (usually between 40% and 60% depending on end-user price) to Fortumo. Fortumo pays you the money received from operators minus a small commission (which can be only 2-3% of end-user price, depending on country, type of service and volume). The table above shows your revenue after the operator's share and Fortumo commission.
Presented revenue share is calculated from the Price excl. VAT (21%).
Price presented to end user is Price incl. VAT (example: 2.57 LVL)
Payout cycle in Latvia is 1 month

Fortumo pays you money immediately after we have received it from the mobile operators. Operators in different countries pay at different speeds. Payout cycle of 1 month means that the revenue earned by your services in January will be transferred to you in the first half of March.
After the initial waiting period, you would get a payout each month, as your February money arrives in April, March money in May, etc.

January February March

1. Your services earn revenue
2. Operators pay money to Fortumo
3. Fortumo pays money to you

The service must be in compliance with Fortumo Terms of Service, Latvian legal acts and good morals.
The end user price must be clearly stated in the advertisements and instructions of use.
For Tele2 pre-paid clients gambling, parking ticket and donation services are forbidden.
From Feb 1, 2009, operator Tele2 has slightly decreased their share of the revenue for auction-related services in Latvia. Therefore, if your service is auction-related or similar, Fortumo has to deduct additional 15% of the end-user price from your payout. Messages sent from Tele2 prepaid cards won't be delivered at all. This only applies to Tele2 and has no effect on your LMT or Bite revenue share.
Even though you are getting less revenue, we recommend you to report the nature of your service accurately. (If you are not sure if this category applies to your service, it is probably better to choose "yes"). Why? Because if you choose "no", but the operator considers your service to be auction-related, then they might ask for immediate termination, as well as all the revenue the service has earned.

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Fortumo is available in 44 countries

Click on a flag to view more information, payouts and regulations about a specific country:

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