The Bank of Albania, the Ministry of Finance, and the Albanian Association of Banks launched a national program for electronic payments. The goal is to reduce cash use and expand digital payments across the country.

At the “Cashless Albania 2030” event, Governor Gent Sejko, Finance Minister Petrit Malaj, and Economy Minister Delina Ibrahimaj participated. Representatives from tax authorities and commercial banks also attended.

During her speech, Ibrahimaj said the initiative aims to increase digital payments for citizens and businesses. She emphasized the need for a modern, safe, and functional infrastructure.

Next, she outlined the main objectives. These include expanding digital payments, formalizing the economy, aligning with European standards, and strengthening financial education.

Furthermore, she announced the creation of a Council for Digital Payments. This council will lower payment costs and reduce reliance on cash. She noted that the council supports, but does not replace, the Bank of Albania’s authority.

Ibrahimaj stressed that banking use remains low. She cited World Bank data: only 16% of payments use cards, costs are high, 46% of citizens hold bank accounts, and only 35% make digital payments.

In addition, she reported the launch of a pilot project to test new digital payment methods and identify challenges.

She stated, “Our goal is for 60% of payments to be digital by 2030, and for all public institutions to accept electronic payments.”

Then, she explained that the government has drafted 12 concrete measures and is preparing legal changes to support the shift away from cash.

The 2026 fiscal package will lower the cash-payment ceiling to 500,000 lek. It will also require all businesses to adopt electronic payment tools by the end of 2026. Implementation will be gradual.

Moreover, tourism businesses must install electronic payment devices by June next year.

The program also calls for removing cash payments from public institutions, promoting electronic payments for public employees, and setting limits on cash held by entities issuing electronic invoices.

Overall, “Cashless Albania 2030” aims to transform payment practices, reduce costs, and increase transparency and formalization in the Albanian economy.

/a.c/