The number of payment cards increased further in the first quarter

2025-06-09 10:54:00, Ekonomi CNA

The payment card business also recorded growth in the first quarter of this year, both in their number and in the volume of use.

According to data from the Bank of Albania, at the end of March the number of active cards reached 1.54 million, up 2.2% since the beginning of the year.

The growth has been supported overwhelmingly by the continued expansion in the largest segment, that of debit cards, but also by positive trends in the number of credit cards and partly also in cards with electronic money function.

The number of debit cards at the end of Q3 2025 reached 1.35 million, up 2.1% since the beginning of the year. This product remains dominant and accounts for almost 88% of the total number of payment cards.

Debit cards are a basic payment instrument, linked to the current accounts of businesses and individuals. The increase in their number indicates both improved financial inclusion and expanded use of banking products by the public.

Last year, the law “On the payment account with basic services” came into force. It is estimated that the new law has given further impetus to the use of bank accounts by Albanians, but also to debit cards, as an instrument linked to the payment account.

By law, a basic payment account is offered to consumers in the Republic of Albania by all banks, regardless of income level, employment status and credit history. For holders of this account, banks must offer certain basic payment services free of charge or for a reasonable fee.

Meanwhile, the other consumer product, credit cards, has shown positive performance.

At the end of March, the financial sector reported more than 117 thousand active credit cards, an increase of 3% since the beginning of the year.

Bank of Albania data shows that for the first three months of 2025, card payments at POS terminals reached 22.8 billion lek, or 10% more compared to the quarterly average of last year.

Card transactions are also increasing in number. For the first 3 months of 2025, banking sector customers made about 5.85 million card payments, a figure 19% higher compared to the quarterly average of last year.

The share of card transactions at POS terminals for the first three months of 2025 accounted for about 17% of total bank card transactions, up from 16% in 2024.

Although card transactions continue to be dominated by ATM cash withdrawals, the share of electronic payments has been increasing in recent years and has reached its highest historical level in the first quarter of 2025./ Monitor Magazine