The Bank of Albania published a keynote speech by First Deputy Governor Zaçaj at the Balkan Payment Forum 2026 that reviewed the results of Albania’s payments reforms since its accession to the Single Euro Payments Area in November 2025 and outlined the next stage of modernization. The speech said 11 banks make SEPA credit transfers and that households and businesses sent and received around 363,000 transfers worth EUR 4.3 billion in the first six months. It also cited World Bank data showing average cross-border transfer costs for small-to-medium value transfers falling from 0.76% to 0.08%, while large transfers cost 0.02%. The speech linked those results to earlier regulatory and infrastructure changes. It cited the 2020 transposition of the EU Second Directive on Payment Services, which opened the market to new providers, led to 10 licensed e-money institutions and two institutions offering open banking services, and is now being revised to fully align with the EU Directive on interchange fees. It also pointed to the AIPS Euro system for domestic interbank euro payments, a SEPA-style direct debit scheme in the retail payment system, and fee caps favouring digitally initiated SEPA transfers, with 68% of outgoing transfers initiated online. Broader indicators cited in the speech showed that in 2025, 67% of bank-executed payments were made by card and 20% via internet or mobile, electronic payments per adult reached 29, and adult bank account ownership rose to around 78% from 40% in 2018. Zaçaj said cash remains the default payment method in rural areas and among older generations, while fraud and cybersecurity remain ongoing risks as digitalisation deepens. Looking ahead, the Bank is preparing instant payments through a regional TIPS Clone platform developed with the Bank of Italy and shared among several Balkan central banks, with interoperability with European infrastructure intended to support regional integration and future European Union accession.
Bank of Albania 2026-05-14
Bank of Albania outlines SEPA uptake and next payments reforms including instant payments
The Bank of Albania published a keynote speech by First Deputy Governor Zaçaj on the impact of Albania’s accession to the Single Euro Payments Area, highlighting strong growth in SEPA credit transfers, sharply lower cross-border transfer costs, and increased use of electronic payments and bank accounts. He linked these outcomes to regulatory and infrastructure reforms, including transposition of the EU Second Directive on Payment Services, new e-money and open banking providers, SEPA-style schemes, and fee caps favouring digital payments. Zaçaj also noted persistent cash use and fraud and cybersecurity risks, and said the Bank is preparing instant payments via a regional TIPS Clone platform interoperable with European infrastructure to support regional integration and future EU accession.