RegAlert

Serbia: fintech & payments regulation — 2026-09

Regulated

Serbia fintech: NBS licenses payments/e-money; FIA regulates crypto

Frozen snapshot — the guide as it stood at the end of 2026-09. See the live guide for the current state.

The National Bank of Serbia (NBS) is the primary supervisor for payment services and electronic money, operating under the consolidated Law on Payment Services. The regime is fully harmonized with EU PSD2 standards, requiring licensing for payment institutions and e-money institutions. The FIA supervises crypto assets under the Law on Digital Assets.

Which licence do you need?

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

Requires NBS license under Law on Payment Services

EUR 35,0006 monthsNational Bank of Serbia
E-money & wallet issuanceLicenceElectronic Money Institution[1][2]

Higher capital floor for e-money issuance

EUR 350,0006 monthsNational Bank of Serbia
Domestic money transferLicencePayment Institution[1]

Domestic transfers covered by payment license

EUR 35,0006 monthsNational Bank of Serbia
Cross-border remittanceLicencePayment Institution[1]

Cross-border payments require NBS license

EUR 35,0006 monthsNational Bank of Serbia
Agent networkLicencePayment Institution[3]

Agents must be appointed by licensed institution

EUR 35,0006 monthsNational Bank of Serbia
Open banking / account informationLicencePayment Institution[1]

AIS/PIS requires payment license

EUR 35,0006 monthsNational Bank of Serbia
Foreign-exchange servicesLicencePayment Institution[1]

FX services included in payment license

EUR 35,0006 monthsNational Bank of Serbia

New — what changed recently

  • 2025-05-22Law on Payment Services — Consolidated law enacted to regulate payment services, e-money, and payment systems under NBS supervision.[1]
  • 2024-12-25Decision on Capital and Capital Adequacy — Established regulatory framework for initial capital and ongoing capital adequacy of payment and e-money institutions.[2]
  • 2024-12-27Decision on Technical Standards for SCA — Established technical standards for strong customer authentication and secure communication protocols.[4]

Market-entry checklist

  1. 1Incorporate Serbian entityRegister a company with minimum capital of EUR 35,000 for payment institutions.
  2. 2Submit NBS license applicationProvide business plan, risk assessment, and proof of capital to the National Bank of Serbia.
  3. 3Appoint qualified managementEnsure key function holders possess good reputation and appropriate qualifications.
  4. 4Implement AML/KYC systemsEstablish internal controls and reporting mechanisms compliant with NBS supervision.
  5. 5Register with RSIPComply with data protection obligations under the Law on Personal Data Protection.

Sources

  1. Law on Payment Services · 2025-05-22
  2. Decision on Capital and Capital Adequacy of Payment and Electronic Money Institutions · 2024-12-25
  3. Decision on the Standards of Safe and Sound Business Practices in Providing Payment Services through an Agent · 2019-08-15
  4. Decision on Technical Standards for Strong Customer Authentication and Common and Secure Open Standards of Communication · 2024-12-27