Velichkovski: Competition is expected to intensify in the domestic market of payment services

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Competition is expected to intensify in the domestic market of payment services. The National Bank has issued the first permits for payment institutions, in accordance with the new legal framework, through which citizens will be able to make payments in the country and across borders, noted the director of the Directorate for Payment Systems at the National Bank, Igor Velichkovski said in an interview with Bloomberg Adria.

Velichkovski pointed out that one of the significant benefits of the new legal framework in the payment sphere is the opening of the market for the entry of new providers of payment services, i.e. in addition to banks, payment services can also be provided by savings banks, and as new participants in the market they can also call payment institutions and electronic money institutions.

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