The use of online bank payments is experiencing rapid growth trends. According to the statistics of the Bank of Albania, the monthly average of online banking transactions amounted to about Lek 96.1 billion in the first nine months of 2021, compared to Lek 87.1 billion in the same period of 2020. The increase is tangible measured as the number of transactions, with a monthly average of about 400,000 transactions, from 343,000 last year.

The use of internet banking is increasing for the thirteenth year in a row, also thanks to the further impetus that the pandemic gave to the use of online banking channels last year. Internet banking service is already offered by 11 of the 12 commercial banks in Albania. With the increasing importance of technology in society, banks are putting more focus on promoting these services as an alternative channel for customer relations.

At the end of 2020, the number of bank accounts connected to the internet reached approximately 586,000, an annual increase of 33%. As a simple ratio of the number of accounts to the total population, it is estimated that in Albania the number of Internet-connected accounts is about 21% of the population, a significant increase from the level of 15.5% in 2019.

The use of payments from alternative channels is also being promoted by the Bank of Albania, through regulatory changes. Since June last year, commissions for interbank transfers in local currency Lek via the Internet should be at least 50% cheaper compared to those performed at bank counters. Small transfers up to the amount of Lek 20,000 will be made without any commission.

Also, the new law "On payment services" that has entered into force this year is expected to create space for further growth of digital payments. In support of this law, the Bank of Albania has prepared the first regulations for the licensing of payment institutions, electronic money institutions, as well as for the registration of payment service providers, as well as the draft regulation on transparency for tariffs related to the payment account and on the payment account transfer service.

These regulations are expected to enable increased competition in payment services in the country.