The Law "On Payment Services" has been published in the Official Gazette. It extends the deadline for submitting claims regarding unauthorized or incorrectly executed transactions from 6 to 13 months. The law enters into force on January 1, 2027.

These legal amendments aim to modernize the Albanian financial market, strengthen consumer protection, and further align national legislation with European Union standards.

Extending this deadline provides citizens and businesses with more time to identify and contest transactions that they did not authorize or that were executed incorrectly.

The amendments also provide for greater transparency regarding fees and terms for payment services, and establish a legal basis for capping interchange fees on card-based payments. These measures are intended to foster market competition and help reduce the costs of financial services for users.

Another innovation concerns the mutual recognition of licenses - a mechanism known as "passporting." Following Albania’s accession to the European Union, this mechanism will enable licensed Albanian institutions to provide payment services in EU member states, while institutions licensed within the EU will be able to operate in Albania, in compliance with the relevant supervisory rules and standards.

The law also updates the regulatory framework for electronic money institutions, establishing clearer requirements regarding licensing, capital, the protection of customer funds, and the supervision of their operations. This aims to create conditions for the development of new financial services and products, as well as to expand the range of electronic payment alternatives.

A key focus of these amendments is the security of the financial system, achieved by strengthening requirements for the management of technological and cyber risks, ensuring business continuity, and mandating the reporting of major incidents and instances of fraud. Furthermore, measures are included to improve consumer information and guarantee access to details regarding payment services.

These legislative changes are part of broader reforms to modernize the financial system and align with the government’s objective of reducing the use of physical cash and expanding electronic payments. Together with the previously adopted Law "On the Payment System," this framework aims to create a more competitive and transparent market, harmonized with European legislation.

Following the Law's approval by the Assembly, Minister of Finance Petrit Malaj described the adoption of these amendments as another concrete step toward establishing a financial system that is more secure, more transparent, and more closely aligned with European Union standards.

The Law was approved by the Assembly on October 22, 2026, with 76 votes in favor, 3 against, and no abstentions. On October 31, 2026, the President of the Republic, Bajram Begaj, issued a decree for its promulgation.