Citizens and businesses in Albania will make payments or transactions online within seconds.
If previously the transfer of money could take several days, with the introduction of TIPS Clone, electronic payments in Albania will be carried out in real time even on holidays.
Deputy Director of the Payment System at the Bank of Albania, Valentina Semi, emphasizes that access will be through online bank applications for minimal commissions.
Citizens can use this system to make various payments, starting from electricity, water or restaurant bills.
The TIPS Clone platform enables businesses to make payments and money transfers in real time within seconds, even outside of bank hours. The system will launch in November for domestic payments and then expand to countries in the region and the EU.
Offering this opportunity to make quick payments is expected to simultaneously reduce the use of CASH, bringing significant benefits to the economy, which is estimated to save up to 38 billion lek per year.