Modern payment systems, which ensure that money flows smoothly between the parties involved, are essential for achieving sustainable economic growth in the six Western Balkan economies – Albania, Bosnia & Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia. At a domestic level, they can promote financial inclusion, reduce cash usage, expand payment products and services, and drive the development of financial technology. Furthermore, at a cross-border level, these systems can foster interoperability and reduce the cost and transaction time of trade and remittances within the Western Balkans, as well as with the European…
