Albanians are using more bank cards/ BoA: Banks issued 1.8% more in the second quarter, mainly debit
Albanians are carrying more bank cards than physical cash in their pockets. The latest data from the Central Bank shows that more than 1.5 million bank cards with more than one function are in circulation in Albania.
About 95% of cards have a payment function, while 5% have an electronic money function, in other words, almost 1.5 million and 76 thousand. Of the cards used for making payments, 1.3 million or 87.6% of them are debit cards, while 118 thousand or 7.5% are credit cards.
Compared to the first quarter, the total number of bank cards in circulation increased by 1.8%. The largest impact on this increase was provided by debit cards, which in the April-June period increased by 1.8%, while credit cards increased to a much lesser extent, by only 1%.
In terms of card type, VISA and Mastercard are the only ones used in our country, while local cards and American Express will no longer be issued as of 2022.
Thus, the bank card market in Albania is dominated by the international companies VISA and MasterCard, which have made an almost equal division of the percentage of cards they own in the market. Data from the Bank of Albania shows that almost 51% of cards in Albania are VISA, while 49% are MasterCard.
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, which is one of the objectives that the Bank of Albania aims to achieve.
With a bank card, anyone has instant access to their funds. Whether it's to make a purchase, pay bills, or withdraw cash, a card allows you to do so securely, without having to carry cash or visit a bank branch.
Sektori i agropërpunimit, drejt modernizimit/ Ministrja Denaj: Mbështetje deri në 7.5 milionë lekë për subjekt
Skema Kombëtare e Investimeve 2025 vijon të mbështesë zhvillimin e sektorit agroindustrial në vend. Këtë vit, përfituesit potencialë mund të aplikojnë për......
Vocational education is gaining ground/ Over 4 thousand students enroll in the first year
In the first grade of vocational secondary schools alone, over 4 thousand students are enrolled. This number, which is increasing year by year, shows a new......
Employment by sectors, Fier leads in agriculture/ The number of employees in industry increased by 6.4%
Data from the Institute of Statistics (INSTAT) provide a detailed overview of the distribution of employment by main sectors of the Albanian economy during......
Public transport in Vienna becomes more expensive/ Lack of funds and high deficit drive price increase after 13 years
A lack of public funds is forcing Vienna to raise the price of its annual public transport ticket for the first time in 13 years, removing the offer of......
Private pensions, over 3 thousand new contributors in 6 months/ AFSA: New record also in the net assets of the funds. However, passive members increase
Living on a state pension alone is becoming increasingly difficult for the elderly in Albania, especially those living alone. The main support continues to......
Albanian passports, the most sought after / January–June, 400 people applied to gain citizenship
The number of Albanians who have applied to renounce their citizenship has dropped by almost three times during the first six months of 2025, compared to the......
Pensions, a "time bomb" - France pays about 400 billion euros/year, the reform could "kill" another prime minister
France's Prime Minister François Bayrou, who faces a confidence vote next week, has blamed his 19 million over-60s for the collapse of the country's......
Energy production from floating TPPs/ KESH aims to purchase 15 thousand tons of fuel, opens tender
The Albanian Power Corporation will purchase 15 thousand tons of fuel, which will serve for the production of energy from the 2 floating TECs, located in......
