The three Baltic states, including Latvia, are markets with high adoption of online one-tap payment, where the shift to mobile wallets came naturally. Because major Latvian banks support registering their issued cards with Apple Pay, iPhone users can complete a payment with just Face ID or Touch ID authentication, without entering a card number. While Android holds the larger overall market share, iOS users make up a meaningful segment among higher-purchasing-power urban consumers.

This is a good fit for Korean merchants in categories such as fashion, beauty, and ticketing commerce with significant mobile traffic, where checkout drop-off directly affects revenue. Not collecting card details directly reduces the security burden, and biometric authentication replaces the verification step, which is a real practical benefit in minimizing payment friction.

When a consumer selects Apple Pay at checkout, the payment proceeds using the tokenized card stored on the device, with Face ID or Touch ID biometric authentication satisfying PSD2's Strong Customer Authentication (SCA) requirement. A device-specific token is passed instead of the actual card number, and the approved euro (EUR) funds are received by Hecto Financial, converted, and settled to the Korean merchant in the contracted currency among USD, KRW, or JPY.

With Hecto Financial integration, a Korean corporate entity can consider adopting Apple Pay payments without a separate local contract in Latvia. Actual support availability and terms (settlement cycle, fees, currency options) vary depending on the merchant's industry and transaction volume, so confirmation with the Hecto Financial sales team is needed before signing a contract.

• Business registration country

  Confirm contract eligibility as a Korea-registered business

• Sales channel

  The integration method and priority differ depending on your online sales channel mix, such as your own store, open markets, or a mobile app

• Product categories handled

  Advance confirmation is needed as to whether your category falls under a restricted business type under Apple Pay's merchant policy

• EU regulatory compliance

  Confirmation is needed that you comply with EU payment regulations such as PSD2 and SEPA (see official sources below)

Apple Pay transaction funds are received by Hecto Financial in euros (EUR), converted, and deposited to the Korean merchant in whichever currency among USD, KRW, or JPY was selected under the contract. The settlement cycle follows the contract terms. Refunds are returned to the linked card based on the original transaction token, and since Latvian consumers can also exercise the EU-wide 14-day right of withdrawal, it is safer to align your return and refund policy with this rule.

• Bank of Latvia (Latvijas Banka)Official information on Latvia's payment systems and supervision (Latvijas Banka). If the content of this page differs from actual regulations, the official source takes precedence.