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Serbia witnesses surge in payment card adoption and transactions, paving the way for digital commerce growth

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At the close of 2023, the National Bank of Serbia reported that the country had issued 11.5 million payment cards, marking a 7.1 percent increase from the previous year. Over the course of the year, in-store transactions with these cards reached 564.3 million, signifying a notable growth of 21.1 percent compared to 2022.

Of the total transactions, 7.7 percent were conducted using cards from foreign companies, primarily attributed to tourist activity. This amounted to 43.3 million transactions, showcasing a nearly 37 percent rise from 2022.

As of the end of the previous year, Serbian merchants had 136,662 POS terminals, marking a 13.7 percent increase from the previous year. The expansion of ATM networks continued, with 3,078 ATMs at the end of 2023, reflecting a 0.2 percent increase compared to the previous year.

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In the realm of virtual sales, the country commenced the new year with 4,010 online stores, indicating a robust growth of 26.2 percent from the beginning of 2023. This surge in online stores not only presents increased opportunities for merchants but also enhances the convenience for users of payment services, enabling them to make purchases from the comfort of their homes.

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