Credit cards become more “attractive” for Albanians - BoA: Their number increased by 3.5% in the first quarter. The total exceeds 1.5 million
Over 1.5 million is the number of bank cards owned by Albanians. The latest data from the Bank of Albania shows that in the first quarter of 2025, banks issued 33 thousand new cards, bringing the total number of bank cards used by Albanian citizens to 1,543,674. Compared to the end of 2024, we have an increase of almost 2.2% in their number.
But what do we use more, debit cards or credit cards, VISA or Mastercard?
Debit cards continue to be the most popular, while credit cards account for only 8% of payment cards in Albania. However, if we compare in terms of growth, in January-March 2025, we had an increase of 2% in debit cards and 3.5% in credit cards compared to the previous year.
On the other hand, in terms of card types, the American companies VISA and Mastercard continue to dominate the bank card market, while local cards and American Express are no longer issued as of 2022. About 51% of cards in Albania are VISA and 49% are Mastercard, a division that has not changed.
Credit cards allow citizens to borrow funds from a bank to pay for goods and services. They have the condition that cardholders repay the borrowed money, plus any applicable interest and any additional agreed fees, either in full by the billing date or over time.
Meanwhile, a debit card does not have a spending limit like a credit card. This is because debit cards are linked to a checking account. The amount of money deposited in the checking account is the spending limit. If the amount of money in the account is exceeded, an overdraft fee may be charged.
However, there are also some limitations with debit cards. Different banks have certain daily purchase limits that cannot be exceeded whether in online payments, at POS terminals, or at ATMs.
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.
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