"Cashless Albania 2030", initiative aims to increase the use of digital payments by citizens and businesses
Albania is taking steps towards an increasingly digital economy, through a national program that aims to facilitate payments for citizens and businesses and modernize the country's financial infrastructure. POS terminals, QR, online platforms and instant payments will become part of everyday life, while the Bank of Albania ensures that the effects will be positive.
Gent Sejko, Governor of the Bank of Albania, said that "The program has been discussed with the Minister of Economy and Finance. We have taken several steps, but from this moment on, it will be the implementation of fast payments that we are working on with the Bank of Italy."
The goal of the program is to increase the use of digital payments, reduce informality, improve financial information and education with the aim of increasing financial inclusion, and stimulate the creation of an efficient electronic infrastructure.
While Delina Ibrahimaj, Minister of Economy and Innovation, stated that "We have started, in May-June, a project with MasterCard, which also aims to increase the use of electronic payments, increase card use by increasing the number of POS, also in targeted sectors that are mainly sectors related to trade, with HORECA, that is, sectors related to cash payments. Visa has also had initiatives to be included in the program, but in the meantime, all banks currently have programs to encourage electronic payments, they have cashback programs on certain days."
Among the program's objectives are universal POS terminal coverage by 2028, more than 60% of payments to be digital, and 100% of public institutions to accept digital payments.
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