“Domestic non-banking entities to provide payment service”. Dragana Stanic says she hopes Serbia would soon get its first electronic money institutions, the so-called “Serbian paypals.”
The director of the National Bank of Serbia (NBS) Payment System Department noted on Wednesday that currently these services are offered only by banks and post offices.
Under the law on payment services, non-banking institutions can also provide payment services or issue electronic money on condition they go through the application process with the central bank and obtain a license, Stanic said at a panel titled “Cashless Society“ held at the Kopaonik Business Forum, Tanjug reported.
Since the law took force in October last year, three licenses have been issued, with more still in procedure, she said.
“Our objective is to boost competition and thus have an impact on price which plays a major role when customers opt for payment solutions,“ Stanic said.
Source B92
