TIRANA, Sept. 9 /ATA/ – A new instant payments system, known as TIPS Clone, is expected to become operational in November 2026, Bank of Albania Governor Gent Sejko said during talks with a World Bank delegation on Wednesday.
The system will enable real-time payments 24 hours a day, seven days a week, with the aim of making transactions faster, safer and cheaper for consumers and businesses.
Sejko also highlighted Albania’s membership of the Single Euro Payments Area (SEPA), which has enabled faster and lower-cost cross-border euro transfers.
World Bank representatives welcomed Albania’s economic performance and progress in aligning its legal and regulatory framework with European Union standards, while stressing the importance of maintaining macroeconomic and financial stability.
World Bank Country Manager for Albania Massimiliano Paolucci praised the central bank’s progress in modernising payment systems, saying the developments would support Albania’s further integration into the EU.
Sejko said wider use of electronic payments could also help formalise the economy and increase financial inclusion.
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