Q2 2022 overview of payment institution sector

Payment institutions operating in Estonia mediated payments of 149 million euros in the second quarter of 2022. The turnover of domestic payments in the sector fell by 8% from the first quarter of 2022 and the number of payments remained the same. Payment institutions earned sales revenue of 2.2 million euros from providing payment services in the second quarter, which was 300,000 euros more than in the first quarter. Revenues from payment services made up 73% of total sales revenues.  

Key indicators

Q1 2022 Change Q2 2022
Value of payments 157 mln € 149 mln €
Number of payments 2.2 mln 2.2 mln tk
Profit 1.6 mln € 1.5 mln €
Return on equity (annualised) 14% 14%
Equity coverage ratio 2137% 2312%


The amount of the average payment transaction of 69 euros was lower than in the first quarter of 2022, when it was 73 euros. The structure of payment transactions in the sector remained largely unchanged from the previous quarter. Cross-border payments provided 13% of all payments in the second quarter, having been 9% in the first quarter and 8% a year earlier; card payments were 13% of all payments having been 8% in the first quarter and 9% a year earlier; and money transfers were 8%, having been 5% in the first quarter and 8% a year earlier.

The average return on equity of the sector held steady in the second quarter and was 14% at the end of the quarter. The payment institution sector remains well capitalised with equity at 23 times the required minimum.