1.5 million bank cards in circulation - BSH: Their number increased by 2.5% during the third quarter
A total of 1.5 million bank cards with more than one function circulate in Albania. About 95% of the cards have a payment function, while 5% have an electronic money function, in other words 1.4 million and 72 thousand. Of the cards used to make payments, 1.3 million or 92% of them are debit cards, while 121 thousand or 8% are credit cards.
Compared to the second quarter, the total number of bank cards in circulation increased by 2.5%. Debit cards have had the greatest impact on this growth, which in the July-September period have increased by 2.5%, while credit cards have grown to a much smaller extent, only by 0.7%.
Regarding the type of card, VISA and Mastercard are the only ones used in our country, while local cards and American Express are no longer issued since 2022.
Thus, the bank card market in Albania is dominated by the international VISA and MasterCard, which have made an almost equal division of the percentage of cards they own in the market. Data from the Bank of Albania show that almost 51% of cards in Albania are VISA, while 49% are MasterCard.
A higher number of bank cards is an indicator of increased financial inclusion, but also an indicator of citizens' orientation towards electronic payments and the reduction of cash in the economy, which is one of the objectives that the Bank of Albania intends to achieve .
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