NBS: IPS transactions over past 12 months total 77.9 bln dinars

Over the past 12 months, the National Bank of Serbia (NBS) instant payment system has processed 5,300,836 transactions worth 77,985,299,511.58 dinars in total, the NBS said on the first anniversary of the system.

23 Oktobar 2019 20:27

BELGRADE - Over the past 12 months, the National Bank of Serbia (NBS) instant payment system has processed 5,300,836 transactions worth 77,985,299,511.58 dinars in total, the NBS said on the first anniversary of the system.

"The average transaction value was around 14,700 dinars and the average time of execution 1.17 seconds only," it said in a statement.

"Keeping the pace with the leading financial institutions worldwide, exactly a year ago the NBS launched a new payment system - the instant payment system (Instant Payments Serbia). Operated by the NBS, this state-of-the-art system works 24/7, 365 days a year, and enables transfers within almost one second," it said in a statement Tuesday.

The IPS system enables dinar transfers of up to 300,000 dinars per transaction.

"When determining the IPS system price policy, the NBS took great care to ensure that the fees charged to system participants are negligible and based solely on the actual costs incurred by the NBS in the execution of transactions. The aim of the NBS is to create conditions for banks to provide instant payment services to citizens and corporates at prices that are as affordable as possible," it said.

(1 euro = 117.6 dinars)


Photo: Tanjug R.Prelic, file


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