Bank of Albania Governor Gent Sejko says Albania expects to launch a new instant payment system this year. The system will enable people and businesses to transfer money in real time, 24 hours a day, seven days a week.

Speaking at an international payments conference in Tirana, Sejko cited a joint study by the World Bank and the central bank. It estimates that electronic payments could generate annual savings of up to ALL 38.7 billion, equivalent to around 1.5% of gross domestic product. Replacing half of cash bill payments with electronic transactions could save consumers over ALL 500 million and businesses around ALL 1 billion annually.

Digital payments have reached 29 per person each year, up from 5 a decade ago. Their annual growth rate stands at around 25%. In 2025, payment cards were used more often for purchases than cash withdrawals for the first time.

Sejko also highlighted Albania’s membership in the Single Euro Payments Area, which has cut euro transfer costs to participating countries by up to 20 times. Expected annual savings exceed €71 million. He stressed the need for stronger cybersecurity, data protection and financial inclusion.

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