How many payments were made through POS terminals? - The number of points increases by 8%, but businesses continue not to use it
The number of POS terminals in Albania is growing at a slower pace in recent months. According to data from the Bank of Albania, in the July-September period there was an increase of only 8% of POS terminals in Albania. Currently, our country counts 23,502 such terminals, where in the third quarter it turns out that about 1,721 new ones were added.
About 23,496 is the number of EFTPOS terminals in Albania, which are widely used by individuals to purchase food by card in markets, 6 is the number of POS terminals with cash withdrawal function, while virtual POS terminals for the use of cards, i.e. those that are used to make payments through websites, there are 255 in total.
Regarding the number of transactions performed, about 1.7 million is the number of payments made through these terminals during the month of September. As for the value, 74 million ALL is the total amount of payments made through these terminals and 583 million ALL has reached the total amount at the end of the nine months.
Despite the steady growth of these terminals from month to month, there are many businesses that, despite owning a POS, still do not use it. This is especially true of small businesses, which do not accept card payments for purchases of less than 1,500 ALL. This happens because the commissions that banks have for a payment made with POS are very high and vary from 2% to 3.5%.
In order to reduce cash in the economy and thus increase card payments, the government aims to increase the number of businesses that use POS in their premises. In order to achieve this, within 2025 a working group is expected to be created between the Ministry of Finance, the Bank of Albania and the Association of Banks to reduce the commissions for the use of POS terminals among second-level banks and businesses.
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