PRESS RELEASE
Governor Sejko attends the Workshop “Cashless Albania – A cash-free economy: are we ready?”

On 26 June 2026, the Governor of the Bank of Albania, Mr Gent Sejko, attended the workshop: “Cashless Albania – A cash-free economy: are we ready?”, organised by the Academy of Sciences of Albania. The event brought together representatives from public institutions, the banking sector, academia, and international organisations. The workshop aimed to provide a platform for discussion on Albania’s transition towards a cashless economy, by assessing progress achieved so far, identifying existing challenges, and outlining priorities for the further development of the digital payments’ ecosystem in Albania.

In his greeting remarks, Governor Sejko highlighted that the transition towards an electronic payments economy is a key element of the modernisation of the Albanian financial system and a process that requires the collaboration of all institutions and market stakeholders. He underlined that the Bank of Albania has been a driving force behind reforms in the field of payment digitalisation, by developing the legal framework and the necessary infrastructure for the expansion of electronic payments.

The Governor highlighted as key achievements the transposition of the European PSD2 framework, the development of the open banking concept, the adoption of the Law on Basic Payment Accounts, the modernisation of national payment systems, and Albania’s accession to the Single Euro Payments Area (SEPA). The latter enables Albanian businesses and citizens to conduct euro-denominated transfers at significantly lower cost and under the same standards as those applied in European Union Member States.

Referring to the results of these reforms, the Governor stated that statistical data confirm their positive impact on the development of the payments market. The number of digital payments per capita has reached 29 per year, compared to five a decade earlier, while digital payments continue to grow by around 25% annually and already account for the largest share of transactions recorded in national systems. The number of cards in circulation has reached 1.5 million, while the network of POS terminals continues to expand in both number and geographical reach. According to the Governor, these developments reflect the consolidation of a long-term trend and the strengthening of public confidence in the use of electronic payment instruments.

Regarding future developments, Mr Sejko underscored that the Bank of Albania’s priority remains the development of the national instant payments platform, based on the Eurosystem’s TIPS model, as well as the expansion of access for payment institutions and electronic money institutions to the national payments’ infrastructure.

In conclusion, Governor Sejko underlined that the success of this transformation depends not only on the development of infrastructure and the regulatory framework, but also on the financial education of citizens and close collaboration among public institutions, the financial sector, and academia. In this context, he commended the contribution of the Academy of Sciences of Albania in promoting scientific dialogue and supporting reforms that foster greater financial and digital literacy in the country.