Main Characteristics of the Payment Card Business in Serbia

Out of all electronic payment systems known in Serbia, payment cards represent the only system that is massively used. Over the past eight years almost all banks in Serbia have started issuing cards, and they have their own systems for card acquiring. The main characteristic of the payment card business in Serbia is a lack of a clearing center for payment cards issued in Serbia (except for domestic Dina Card). This then results in unnecessary expenses having negative influence on payment card business. It has also been proposed to establish a national switching center that would make transaction procession cheaper and have only one point for connection with VISA or MASTERCARD centers.