Montenegro records 56,000 instant payment transactions in July

Montenegro has seen a rapid uptake in its new instant payment system, which allows for money transfers to be completed in seconds, 24 hours a day. Since the system's launch on July 20, a total of 56,678 successful transactions were recorded by the end of the month.

Andrija Jovović, Director of the Payment Services Sector at the Central Bank of Montenegro, noted that while the system is in its early stages, initial feedback from citizens has been positive. Users have highlighted the speed and simplicity of the service, particularly the ability to transfer funds at any time.

For electronic payments up to 200 euros, fees are capped at five cents. The increase in transaction volume and the high success rate of orders indicate a positive trend in changing payment habits within the country.