Around 1.3 billion euro payments with AIPS - BoA: In the first quarter, 20% more transactions through this system
The first three months of 2025 have been quite positive for the AIPS EURO system, with a significantly higher number and value of transfers than in 2024.
Specifically, in January-March of this year, almost 81 thousand transactions were carried out through the AIPS EURO system, which reached a total value of 1.3 billion lek. During March alone, almost 28 thousand transactions were carried out. If we make a comparison with the first quarter of 2024, we note that this year there are 20% more operations with AIPS EURO than in 2024, where the total number for the period January-March was only 67 thousand. On the other hand, the amount of transfers also turns out to be higher this year.
On a monthly basis, despite the fact that the number of transactions carried out with AIPS EURO has increased by 3% compared to February, their value has decreased. Figures from the Bank of Albania show that in March, smaller amounts of money were transferred through this system.
The AIPS EURO system enables the real-time gross settlement of bank customers' transactions for payments in Euro within the territory of Albania. The AIPS EURO system began operating in 2022. The main purpose of creating the AIPS Euro system was to make payments in Euro within the country at a lower cost and with a much shorter timeframe. Previously, the process was carried out through correspondent banks, while data shows that it is increasingly being used for low-value payments, suggesting greater familiarity of individuals with the use of the system.
Expanding its use helps boost financial inclusion and promote electronic payments in the country. According to the Bank of Albania's annual report, an average of 682 transactions per day are carried out through this system with a value of 21 million euros.
Also, in terms of modernizing payment systems, the Bank of Albania and the Albanian Banking Association submitted on April 10, to the European Payments Council (EPC), the package of applications for banks' membership in the SEPA credit transfer scheme. The first cross-border SEPA transactions are expected to be carried out in early October 2025.
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