RETAIL ASSOCIATION PART OF VIRTUAL FORUM ON “REDUCTION OF CASH TRANSACTIONS”

Retail Association participated in the virtual forum on “Reduction of cash transactions” where they discussed the challenges of encouraging card payments and the advantages that this practice offers in reducing informality and increasing security.
The forum was organized by the Kosovo Banking Association and invited were Petrit Balija, Executive Director of the Kosovo Banking Association, Ardian Doko from NLB, Vladimir Djordjevic, as the General Manager at VISA, Masar Baxhaku from the Central Bank of Kosovo and Yllka Metaj, executive director of the Retail Association.
The discussions elaborated on the situation of Kosovo in relation to the region in terms of card payments, legal and regulatory framework regarding the use of the card, the importance of digital payments in the economy and the challenges faced by merchants in promoting card payments. .
Yllka Metaj-Shaqiri from the Retail Association elaborated that businesses continuously support card payments while there is no lack of business resources or the ability of human resources to promote and execute card payments taking into account the common interest in facilitating processes and reducing the informal economy.
However, Metaj-Shaqiri said that businesses are being harmed by the non-unification of POS tariffs and the application of different tariffs for businesses in different retail sectors.
Metaj stressed that the non-unification of these tariffs forces businesses to be provided with POS by different banks that apply different tariffs, thus making business operations difficult to manage. Moreover, businesses faced significantly higher costs associated with maintaining these POSs and transaction fees.
The possibility of easing the burden on businesses was discussed, while the need for continuous coordination between banking institutions and the private sector to reduce cash transactions, reduce informality and increase transaction security was emphasized. .