The Bank of Albania published an update from the eleventh annual meeting of the National Payment System Committee, focusing on recent milestones and ongoing projects to modernise Albania’s payments landscape. Key developments highlighted included the operationalization of SEPA transactions from 7 October 2025, upgrades to core payment infrastructures, the rollout of Open Banking via two licensed institutions, and development of a TIPS Clone national instant payment platform. The Bank of Albania outlined infrastructure upgrades to AIPS, AIPS EURO and AEC, including implementation of ISO 20020 and SEPA standards for low-value payments, alongside regulatory measures to promote electronic payments and lower costs for the public. Open Banking was described as enabling individuals to access account data and initiate payments through third-party providers outside banks, while the TIPS Clone was positioned as a European-standards-compliant instant payments platform and a pillar of the government’s “Cashless Albania” initiative. The Ministry of Finance referenced complementary government measures, including lowering the threshold for cash payments between businesses and requiring electronic payment options for end customers, and committee discussions covered implementation of the TIPS Clone and Open Banking projects and examples from European digital payments markets.

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