TIRANA, Nov 13 /ATA/ Businesses and consumers are set to benefit from lower costs for electronic and card payments under the new Payments Law, which will take effect on 1 January 2027.
In a video message today, Minister of Economy and Innovation Delina Ibrahimaj said the legislation caps interchange fees at 0.2% for debit card transactions and 0.3% for credit card transactions, bringing them into line with European Union standards.
“Card payments are becoming cheaper for businesses and more accessible for consumers! From 1 January 2027, under the new Payments Law, interchange fees will be capped at 0.2% for debit cards and 0.3% for credit cards, in line with European Union standards, reducing transaction costs by up to 1.3%,” Ibrahimaj said.
According to Ibrahimaj, implementing these changes will halve transaction costs for merchants, creating more favourable conditions for the use of card payments in everyday commercial activities.
The minister also highlighted the “Cashless Albania” programme, which aims to expand the use of point-of-sale (POS) terminals at retail outlets, with the goal of equipping all businesses serving consumers by December 2026.
“Through the Cashless Albania programme, we are expanding the use of POS terminals, with the aim of equipping all businesses serving consumers with these devices by December 2026,” Ibrahimaj said.
She stressed that lower costs for businesses, more convenient and secure payments for consumers, and wider use of electronic payment instruments are important steps towards a more modern and transparent economy.
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