In remarks at the inaugural Balkan Payment Forum, the Bank of Albania said Albania's entry into the Single Euro Payments Area in November 2025 has already expanded lower-cost euro transfers and supported a broader shift toward digital payments. Eleven banks currently execute SEPA credit transfers, and in the first six months citizens and businesses sent and received about 363,000 transfers worth EUR 4.3 billion, exceeding the banking sector's initial projections. According to data cited by the bank, average cross-border transfer costs fell from 0.76% to 0.08% for small and medium-value payments and to 0.02% for large transfers, while the first-year effect on remittances is projected at EUR 70 million. The bank linked these results to earlier reforms, including the 2020 payment services law that transposed the European Union's second Payment Services Directive, the licensing of 10 e-money institutions, the rollout of payment initiation and account information services, and domestic infrastructure changes such as AIPS Euro and a SEPA-style direct debit scheme. It also said 68% of outgoing SEPA transfers are initiated online, 67% of bank payments in 2025 were made with cards and 20% by phone or internet, electronic payments per adult reached 29, and bank account ownership rose to about 78% of adults from 40% in 2018. Looking ahead, the Bank of Albania said it is reviewing the payment services law for full alignment with the European Union directive on interchange fees and preparing instant payments through the regional TIPS Clone platform, which is intended to deliver real-time, low-cost payments and interoperate with European infrastructure. It also identified continued cash use, fraud and cybersecurity as ongoing challenges and said it has strengthened supervision, international cooperation and anti-money laundering measures.
Bank of Albania 2026-05-14
Bank of Albania reports EUR 4.3 billion of SEPA transfers in the first six months and prepares instant payments through TIPS Clone
The Bank of Albania reported that Albania’s entry into the Single Euro Payments Area in November 2025 has reduced cross-border euro transfer costs and accelerated digital payments, with 363,000 SEPA credit transfers worth EUR 4.3 billion in the first six months. The bank cited prior legal and infrastructure reforms, rising use of online, card and mobile payments, and higher bank account ownership. It is reviewing the payment services law for full EU alignment and preparing instant payments via the regional TIPS Clone platform, while addressing persistent cash use, fraud and cybersecurity risks.