TIRANA, July 25 /ATA/ Governor of the Bank of Albania Gent Sejko said that the country has now taken an important step in modernizing the payment system, making it equivalent to the countries of the European Union.
In an interview with the media, Sejko shared details regarding the latest developments in the payment systems in the country, which are an important step towards the modernization of the payment system and at the same time the formalization of the Albanian economy.
“The “Open Banking” project, which has already been technically completed; SEPA, which is expected to become operational on October 7, 2025, together with the “Instant Payment”, will bring about a reduction in the use of physical money and an increase in digitalization in the Albanian economy,” said the Governor.
Sejko stated that these important developments represent a guarantee criterion since in terms of financial integration and payment exchange, our country will be considered equivalent to the countries of the European Union.
“The Bank of Albania is working intensively so that on October 7, banks will be ready for full operation in the SEPA scheme. In the first year after implementation alone, the Albanian economy is expected to benefit from around 20 million euros in savings, a figure that will continue to grow over time. It is worth noting that beyond the savings, the security of transactions will also increase,” he stated. /j.p/p.s./
