Financial Institutions and Markets

The Parliament of the Republic of Serbia has recently adopted amendments to the Act on Payment Services (PSA), which will take effect on May 6, 2025.

These amendments align the law with the EU’s PSD2 directive. The primary objectives of the amendments are:

• To integrate Payment Initiation Services (PIS) and Account Information Services (AIS) into the Serbian payments sector.
• To facilitate Serbia's anticipated entry into SEPA, aiming to streamline and incentivize transfers between the EU and Serbia, which currently amount to billions.
• To establish a new legal framework that will create significant business opportunities for developing digital services in Serbia's financial sector, which currently lags behind the EU.

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