The National Bank of Serbia (NBS) revoked ALTA GROUP DOO BEOGRAD's licence to issue electronic money and provide payment services. The decision was an automatic consequence of the revocation of ALTA banka a.d. Beograd's operating licence, following an assessment under the Law on Payment Services that the electronic money institution no longer met the prescribed good business reputation requirements applicable to qualifying holders. The NBS took measures to protect payment service users' funds and ensure settlement of obligations arising from payment orders received by the institution and card transactions at merchants, alongside obligations to electronic money holders. The central bank assessed that the revocation had no impact on Serbia's financial system stability because ALTA GROUP is not a bank and does not accept deposits from households or businesses. Individuals and businesses can continue using the same services through other banks, electronic money institutions and payment institutions operating in Serbia. Debtors remain responsible for their outstanding obligations to ALTA GROUP and can expect instructions on how to settle them.
National Bank of Serbia revokes ALTA GROUP's electronic money and payment services licence
The National Bank of Serbia revoked ALTA GROUP DOO BEOGRAD's electronic money and payment services licence as an automatic consequence of ALTA banka a.d. Beograd's operating licence revocation, following an assessment that business reputation requirements were no longer met. Measures were taken to safeguard users' funds and ensure settlement of payment obligations and obligations to electronic money holders. The central bank assessed that financial system stability was unaffected, while ALTA GROUP's debtors remain liable for outstanding obligations.