Payment Systems Modernisation Workshop

06/02/2024

The workshop Payment Systems Modernisation in Montenegro, which the CBCG and the World Bank organised in Podgorica on 5 and 6 February, presented experiences and practical applications of the EU acquis governing the payments area.

World Bank experts and representatives of reputable European public and private institutions shared their insights and experience on opportunities and challenges related to payment system modernisation, with a focus on the Montenegrin payments ecosystem. Particular emphasis was placed on the EU Payment Services Directive (PSD2), the process of accessing the Single Euro Payment Area (SEPA), and the role of fast payments in the payments infrastructure modernisation efforts.

More than 100 participants from the banking, financial and IT sectors of Montenegro attended the workshop and learned about regulatory innovations and technological developments in the European payments area, as well as the relevance for the Montenegrin market.

The Workshop was organized as part of the Western Balkans Payments Modernisation project, financed by the European Commission and implemented by the World Bank, supporting the Western Balkan countries in further integrating payment systems with each other and with the EU, with the ultimate goal of the Western Balkans joining SEPA.