Montenegro has officially joined the SEPA system, enabling faster, simpler, and cheaper euro payments to 40 countries, according to Bratislav Pejaković from the Banking Association.
In the first week, the system was primarily used by individuals, and it is expected that businesses will increasingly use SEPA as obligations arise. SEPA transactions allow recipients to receive the full amount sent without deductions or hidden fees, offering a clear advantage over other international transfer methods.
Joining SEPA demonstrates that Montenegro can operate as an equal member within the European payments space, both technically and organizationally, sending a strong message to the region and Europe.
The country has also seen steady growth in online banking users, with digital and mobile banking transactions being significantly cheaper than in-person services.
Looking ahead, Montenegro plans to introduce an instant real-time payment system in cooperation with the Italian central bank by July next year, further aligning its payment infrastructure with European standards.
