Payment Card Year Books

Serbia Statistical Report 2024

Name: Serbia Statistical Report 2024
Brand: Payment Card Year Books
Price: 270.00 GBP
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£270.00

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INTRODUCTION

Serbia is a parliamentary republic with a unicameral National Assembly. Within Serbia, the province of Vojvodina enjoys autonomous status.

Serbia filed its application for EU membership in December 2009, but the country has become increasingly integrated with the rest of Europe in recent years. Accession negotiations are currently ongoing, and Serbia is expected to join the EU by 2025 provided it meets commitments to public administration reform, economic criteria, and regional cooperation.

The process has been helped by infrastructure projects such as EU Corridor 10, the motorway linking Austria with Greece, 800km of which pass through Serbia. Foreign investment is a major part of the economy, including substantial investment by Intesa Sanpaolo, Raiffeisenbank, UniCredit and Greek banks in Serbian banks.

As the dominant member of the former Yugoslavia, Serbia was the most advanced cards market in the Comecon bloc. Enjoying relative freedom to travel and operate bank accounts, Serbians were well-versed in card usage and more cards were issued in Yugoslavia than in the whole of the Soviet Union and eastern Europe in 1991-2. During the years of civil war and ensuing sanctions, the Serbian economy fell behind the rest of the region, but driven by European bank capital, the banking sector and the payment cards industry have recovered.

Although card numbers have enjoyed strong growth, credit cards have fallen in numbers and usage especially over 2020, with COVID-19 restricting usage outside of Serbia. As of 2021, payments in Serbia are characterised by the increasing importance of mobile payments - the launch of the Instant Payment System in 2018 by the National Bank of Serbia being one of the most transformative events in recent years.

As such, the number of mobile and internet banking users has risen significantly, and many banks are actively engaged in increasing their e-commerce presence in line with the uptake of services like Apple Pay facilitating mobile and online payments.

With many of its payment regulations becoming more closely aligned with EU regulations, it’s likely that Serbia’s payment infrastructure will develop in line with trends seen in western European countries, particularly in relation to mobile payments, instant payments and strong customer authentication.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.