Central Banking

Bank of Lithuania chief urges banks to consider fee cuts as non-cash payments rise

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A report by the Bank of Lithuania has found a rapid increase in the volume of non-cash payments, which Vitas Vasiliauskas, who chairs the central bank's governing board, said gives banks room to cut their fees.

The report found that the volume of non-cash payments increased by 13% in 2012, with the fastest growth coming from card payments (22.2%) and electronic credit payments (15.5%). Despite the increase in volume, the value of non-cash transactions actually fell 4%, totalling around 740 billi

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