NewsThe first electronic money institution with NBS approval for IPS payments.

December 5, 20230

The electronic money institution PaySpot LLC Novi Sad received approval from the National Bank of Serbia on November 24, 2023, to participate in the Instant Payment System (IPS).

Instant payments represent a significant step forward, positioning PaySpot LLC as a market leader among payment service providers in the country.

Instant payments enable users to execute individual instant payments up to the amount of 300,000 RSD, 24 hours a day, 7 days a week, 365 days a year (24/7/365), meaning at any time of the day throughout the year.

The funds are immediately available to the payment recipient.

The institution has enabled merchants a new functionality, accepting instant payments at their e-commerce sales points using the innovative “IPS Scan” method. Instant payment is realized immediately, simply by scanning the IPS QR code by the customer via the m-bank application. With this service, merchants can speed up the path to desired products with a safe and efficient payment method on online platforms.

Instant payments will provide users with new, practical payment methods, enhancing their experience.

PaySpot LLC is expected to soon implement instant payments at its counters, further facilitating and accelerating payment processes.

The introduction of instant payments represents a key step in the direction of the future of digital finance in Serbia, and PaySpot LLC looks forward to improving its services and further strengthening its market presence.

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