Shkodra, 793 new POS terminals in 2024 - In which regions are electronic payments being promoted the most? BoS: Tirana, the smallest growth
Businesses in Shkodra and Lushnja are the ones that have installed the most POS terminals in 2024. Although Tirana has the largest number of these terminals, this and due to the greater concentration of businesses in this region, Shkodra and Lushnja result in the highest growth of POSs compared to all other regions of the country.
The latest data from the Bank of Albania shows that by 2023, there has been an increase of 86% and 55% in POS terminals in Shkodra and Lushnja, respectively. There are a total of 1,711 terminals in the Shkodra region, while in Lushnja there are around 832.
On the other hand, Tirana and Gjirokastra have had the smallest increase in POS terminals in the past year. Despite this, the capital continues to dominate with 18 thousand POS terminals. This is due to reasons related to an earlier awareness of businesses to install such a device, the ability to afford it financially, but also due to the higher awareness and demand of citizens, or tourists, to make card payments in this region. Meanwhile, the Gjirokastra region ranks third.
This increase in POS terminals is an indicator of the promotion of electronic payments in other regions of the country, besides Tirana. Bank of Albania figures show that in a span of 5 years there has been a 101% increase in POS terminals across the country.
POS terminals simplify the sales process, reducing waiting times for customers and increasing overall efficiency. Furthermore, POS systems can help reduce human errors associated with manual calculations. The installation of new POS terminals encourages electronic payments, as it offers citizens more options for making their purchases by card.
A few weeks ago, the American company Mastercard introduced the POSI program, through which 4,750 free POS terminals will be distributed to Albanian merchants. The distribution will start on May 1, and the goal is to promote electronic payments, financial inclusion and the formalization of the economy.
Meanwhile, according to the Medium-Term Revenue Strategy 2024-2027, within 2025 it is intended to reduce the commissions for the use of POS terminals between second-tier banks and taxpayers.
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