The Bank of Albania held a discussion meeting with the Supervisory Board of the Albanian Association of Banks to strengthen coordination with commercial banks on payment-system development, banking digitalisation, the promotion of electronic payments and investment in upgraded payment infrastructure. The agenda also covered the operationalisation of cross-border payments through SEPA schemes and developments in credit growth. The Bank reported continued double-digit growth in electronic payment instrument usage, with digital payments per capita reaching 23 in 2024 from 4 in 2016, and financial inclusion reaching 78% from around 40% in 2017. The meeting highlighted 7 October 2025 as the date for cross-border payment operationalisation with SEPA schemes, positioned as reducing the cost and increasing the speed of transfers currently routed via correspondent banks. The Governor set out conditions for accelerating digital payment adoption, including adequate infrastructure, reasonably priced access, a strict consumer protection framework, and enhanced financial education and technological skills, and called on banks to act proactively; participants also discussed lending trends, including increased lending to enterprises and households and more tailored instruments for the agriculture sector. The next stated milestone is the SEPA cross-border payments operationalisation on 7 October 2025.
Bank of Albania 2025-09-22
Bank of Albania and Albanian Association of Banks step up cooperation on digital payments and SEPA cross-border transfers
The Bank of Albania met with the Supervisory Board of the Albanian Association of Banks to enhance coordination on payment-system development, digitalisation, and electronic payments. The meeting addressed cross-border payments via SEPA schemes, set for 7 October 2025, aiming to reduce costs and increase transfer speeds. Discussions also covered lending trends and the need for improved infrastructure, consumer protection, and financial education to accelerate digital payment adoption.