Instant payments in Serbia up 30% y/y in Q1

The overall value of these transactions totalled 210.4 billion dinars ($1.92 billion/1.79 billion euro) in January-March, NBS said in a statement last week.

The average daily number of instant payment transactions rose to 214,860 in the first quarter, up by more than 47,000 compared to the first quarter of 2023, with the number of payments hitting a record of 382,002 on February 14.

As at the end of March 2024, more than 500,000 users have been registered to use the Transfer service - the option to send money simply and quickly by using mobile phone number only. As a result, the number of such transactions doubled compared to the first quarter of 2023.

The instant payment service was launched in Serbia in October 2018.

(1 euro = 117.063 dinars)