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Albania: fintech & payments regulation

Regulated

BoA regulates payments & e-money; strict licensing, ALL 2.5m-4m capital, no sandbox

Lead regulator
Bank of Albania
Also involved
Data Protection Commissioner (DPC) for privacy; Financial Intelligence Unit for AML
Core law
Law on Payment Services and Electronic Money (2021/2022 Regulations)
Entry capital
ALL 2.5m (Payment Institution)
Approval timeline
3-6 months
Customer assets
Segregated accounts required
Data protection
Law No. 9887 (2008) · Data Protection Commissioner
Sandbox
No
Monthly snapshots:2026-07

The Bank of Albania (BoA) is the sole supervisor for payment institutions and electronic money institutions. The regime is comprehensive, requiring specific licenses for payment processing and e-money issuance, with capital floors of ALL 2.5m and ALL 4m respectively. The BoA maintains a public register and enforces strict AML and operational standards.

Which licence do you need?

Your activityRequirementCapitalTimelineAuthority
Payment processing / gatewayLicencePayment Institution[1][2]

Requires BoA license under Reg 14/2023

ALL 2.5m3-6 monthsBank of Albania
E-money & wallet issuanceLicenceElectronic Money Institution[3][2]

Requires BoA license under Reg 57/2022

ALL 4m3-6 monthsBank of Albania
Domestic money transferLicencePayment Institution[2]

Domestic transfers fall under payment institution scope

ALL 2.5m3-6 monthsBank of Albania
Cross-border remittanceLicencePayment Institution[2]

Cross-border payments require BoA license

ALL 2.5m3-6 monthsBank of Albania
Agent networkRegistrationAgent Registration[4]

Agents must be recorded in the public register

——Bank of Albania
Open banking / account informationLicenceAccount Information Service Provider[4]

Registered as AISPs in the public register

——Bank of Albania
Foreign-exchange servicesLicenceForeign Exchange Bureau[5]

Separate license under Reg 31/2007

ALL 5m—Bank of Albania

New — what changed recently

  • 2023-03-23Regulation 14/2023 — Established comprehensive rules for licensing and supervision of payment institutions.[1]
  • 2022-12-21Regulation 57/2022 — Set operational and supervisory rules for electronic money institutions.[3]
  • 2022-06-01Regulation 29/2022 — Mandated strong customer authentication and secure communication standards.[6]

Market-entry checklist

  1. 1Secure BoA LicenseApply for Payment Institution or EMI license with ALL 2.5m-4m capital.
  2. 2Register in Public RegisterEnsure entity is recorded in the BoA Public Register of PSPs.
  3. 3Implement SCADeploy strong customer authentication per Regulation 29/2022.
  4. 4Obtain InsuranceMaintain professional indemnity insurance calculated via BoA formula.
  5. 5Register AgentsRecord all agent networks in the BoA public register.

Sources

  1. Regulation 14/2023 on Carrying Out Activity and Supervision of Payment Institutions · 2023-03-23
  2. Bank of Albania Regulation on the Licensing of Payment and Electronic Money Institutions · 2021-11-24
  3. Regulation 57/2022 on Carrying Out Activity and Supervision of Electronic Money Institutions · 2022-12-21
  4. Regulation 7/2022 on the Public Register of Payment Service Providers · 2022-02-02
  5. Regulation 31/2007 on Licensing, Organisation, Activity and Supervision of Foreign Exchange Bureaus · 2007-06-06
  6. Bank of Albania Regulation 29/2022 on Strong Customer Authentication and Secure Communication Standards · 2022-06-01
This guide is compiled automatically from 6 primary-source documents published by Albania's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-08-01). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.