Drastic decrease in transactions with AIPS - BSH: In November, 15.7% fewer actions were carried out than in October
The number and value of transactions carried out through the AIPS-EURO system has suffered a drastic decrease during the past month. Official data from the Bank of Albania show that in November 15.7% fewer transactions were performed than in October.
Specifically, the number of transactions was around 26 thousand, almost 5 thousand less than in the previous month. On the other hand, as a result of the smaller number of transactions, the value of actions with AIPS also decreased by 15.9%
In total, for 11 months, there are 291 thousand transactions carried out with AIPS, which have a value of 4.6 billion. October was the month that marked record values in terms of actions carried out through this system, while despite the fact that in November there was a smaller number of transactions, in only 11 months the value of 4.1 billion ALL and 249 thousand transactions of the year was exceeded past. The figures speak of an overall increase in AIPS actions from year to year.
The Albanian Interbank Payment System AIPS is used by banks to transfer large sums of money to each other in real time. AIPS enables large, fast and secure payments between banks, helping to maintain financial operations in the country.
Although AIPS is a system for interbank payments, it indirectly speeds up transactions for citizens, especially when large sums of money are involved. When a citizen makes a large payment, such as buying property or a car, the transaction involves the movement of money between the buyer's bank and the seller's bank. In this case, the buyer's bank uses the AIPS system to quickly and securely transfer funds to the seller's bank.
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