TIRANA, March 27 /ATA/ The Albanian government, in partnership with Mastercard Europe, launched the Program for Accelerating the Adoption of Electronic Payments, marking a significant step towards reducing informality and accelerating the growth of Albania’s economy.
The Minister of State for Entrepreneurship and Business Climate, Delina Ibrahimaj, stated in her remarks that the Albanian government will support this project, adding that digitalization and innovation have been key pillars of this government.
“The Albanian government will support this project, as we strongly believe that only through digitalization can the entire Albanian economy be modernized, we can crack down on informality, and we can accelerate economic growth. Digitalization and innovation have been key pillars of this government’s vision since it took office,” said Ibrahimaj.
Minister Ibrahimaj recalled that just a decade ago, Albania had only 15 online services, whereas now this number has reached 1,252 services.
“More than ten years ago, we had just 15 online services, whereas today, that number has reached 1,252. In fact, back then, no one could have thought that all the services available to the public, businesses, or individuals would be provided online,” said Ibrahimaj.
According to Ibrahimaj, “Only last year, 15.2 million online services were provided, saving 620 million euros to individuals and businesses in Albania and abroad.”
“In the last decade, the Albanian economy has grown by 2.5 times. The income per capita has tripled, the number of tourists has increased tenfold, while tourism revenues have quintupled. These are all figures that have translated into increased consumption, higher revenues for Albanian businesses linked to consumption, and connected to tourism,” said Ibrahimaj.
In her speech, Ibrahimaj also mentioned the progress in the financial sector.
“We have also seen considerable progress in the financial sector. Ten years ago, only 40% of Albanians had a bank account, but today that figure has risen to 80%. In 2015, there were only 2 digital payments per capita, while today that number has increased to 28,” said Ibrahimaj.
The Minister emphasized that only 40% of companies in Albania have POS (Point of Sale) devices, and only 22% of them can be considered fast users of POS.
“Compared to the EU, we continue to lag behind, as about 90.6% of payments are made in cash, specifically payments between businesses and consumers. Today, only 40% of companies have POS (Point of Sale) devices, and of those, only 22% can be considered fast users of POS,” said the minister.
Ibrahimaj also expressed confidence that the Mastercard program, which will provide POS devices for merchants in supermarkets, taxis, hotels, and restaurants, will help overcome the barriers to using electronic payments.
“Analogous to the progress made in online services and the fiscalization reform, we will see a reduction in operational costs for businesses. Although these benefits may not be immediately apparent, I am confident that they will materialize in the future. Through an awareness campaign targeting both merchants and the public, in conjunction with a partnership between the government and the financial sector, we will bring about a transformation in the payment system in a relatively short time. This initiative will represent another significant step toward strengthening the Albanian economy by reducing costs and informality,” stated Ibrahimaj.
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