Skopje, 9 October 2021 

If two years ago, one of four payment orders was executed electronically, and the other three at the banks’ counters in paper-based form, already in 2020 and in the first half of 2021, every third order is executed electronically. This means that citizens are increasingly enjoying the benefits of electronic banking and electronic services offered by banks, said the Vice Governor of the National Bank, Emilija Nacevska, as a guest in the morning show on the Macedonian Television, stating that electronic payments are safe and bring numerous benefits to citizens.

- The pandemic is changing the way of life of people, and thus their habits in the manner of payment. To protect their own and public health, citizens are increasingly reaping the benefits of digital payments, mobile applications and payment cards. This was especially visible in the first months of the pandemic, when the growth of these payments was 110% and continued with that intensity also in the forthcoming period. According to the latest official data of the National Bank in the field of payment statistics for the first quarter of this year, the number of payments with payment cards is higher by 44% compared to the same period last year - said Nacevska.

The Vice Governor emphasized that the use of payment cards is completely safe, because our banks issue cards that do not lag behind in the technological solutions that are offered worldwide.

- Security standards are provided for making payments with cards and through electronic banking, which do not fall behind with the requirements in the international standards. We are all users of "Visa" or "Mastercard" cards, which are internationally branded and behind which there are really high security standards. These are the key factors for safe execution of payments and therefore, the more they are used, the smaller the exposure and the unnecessary waiting in front of the banks’ counters - Nacevska said.

The Vice Governor also announced that efforts are made to provide the possibility for introducing new, innovative technological solutions - fintech, which will provide an even wider range of services to citizens and companies.

- Fintech companies are expected to appear soon, with the entry into force of the new Law on Payment Services and Payment Systems. In order to enable the use of these services, it is necessary to introduce the concept of "open banking", i.e. open and safe communication of fintech companies, banks and citizens and companies, as users of payment services. For us as a country, the fintech sector should be an opportunity for our citizens and companies to use the payment services used in developed countries. This is a big step forward, the expectations are great, but it will certainly take time to achieve - Nacevska said.

The legal basis, as the Vice Governor said, will be set soon, but the process of licensing and establishing security standards will follow, because the security of funds in banks is what is basic and what should first be ensured.