The year 2025 was a very important year in the field of payments. Since October, Albanian banks have started operations and are offering transfers in the Single Euro Payments Area (SEPA) systems.

Also, at the beginning of 2025, the first actions were carried out through the open banking service, one of the most important principles brought about by the adoption of the EU PSD 2 directive, adapted in the law “On payment services”, for the year 2020.

Last year, work also began on the instant payments system, which will enable transfers to be made in almost real time. The system is expected to be finalized within this year.

Payment figures showed an expansion of the dominance of electronic payments over the total number of transactions carried out by Albanians through banking channels. Now, 2/3 of transfers are carried out via phone or computer, without physically going to a branch.

A significant development was also the fact that, for the first time, card payments at POS terminals exceeded the number of cash withdrawals from ATMs, signaling a symbolic step forward in the objective of reducing cash payments and increasing electronic ones.

Enabling transfers in SEPA brought a significant reduction in international transfer fees for the Albanian public.

According to the regulation approved by the Bank of Albania, the maximum levels foreseen for domestic transfer fees will also be valid for international transfers via SEPA.

Albania was officially accepted as a member of the SEPA area by the European Payments Council on November 21, 2024.

Previously, the banking sector in Albania executed international transfers through foreign correspondent banks. Such a solution entailed high commissions and relatively long transfer times.

SEPA is an early initiative of the European Union to harmonize electronic payments in Euros between member countries.

SEPA membership is expected to save more than Euro 71 million per year in international transfers made to and from Albania. According to a study by experts from the German Economic Team, GET (a consultancy funded by the German Ministry for Economic Affairs and Energy), the reduction in international transfer costs will amount to Euro 62 million for payments related to foreign trade and more than Euro 9 million for remittances.