Ohrid, 29 June 2023 (MIA) - New technologies are altering the landscape of the payment services and market infrastructures in global terms and in our country at a very fast pace. Central banks are one of the generators of the payment digitization process, the best example being that most of them consider the introduction of the digital currency, including the National Bank, heard a 15th Conference on Payments and Market Infrastructures, organized by the National Bank of North Macedonia and the Central Bank of the Netherlands in Ohrid on Thursday.

The region is interested in alignment of the payment infrastructure with the Single Euro Payments Area (SEPA), more efficient cross-border transactions and acceleration of economic growth.

In the opening remarks, National Bank Governor Anita Angelovska-Bezhoska said a "Central Banking" survey showed that 80 percent of central banks see innovation in payments and digital currencies as priority for research.

"Digital currencies of central banks are becoming increasingly important. According to latest data, 114 countries that represent over 95 percent of the global GDP are mulling the introduction of a digital currency, compared to the 35 states that contemplated this only three years ago. Eleven countries are already using digital currencies, while 18 countries of G20 are in an advanced stage of development," said Angelovska-Bezhoska and added that the central bank of North Macedonia recently started to research the possibility of introducing a digital Denar.

Inge van Dijk, Director of Payments and Market Infrastructure at the Central Bank of The Netherlands, highlighted the importance of cooperation in the payments sector amid technological progress and globalization, but also the need for faster and cheaper cross-border payments, as well as transparency and inclusivity.

"Further integration of the European market of payments is a necessary step to build a stronger Europe," said van Dijk and noted that the effort requires strategy and investments.

On the Dutch experience with SEPA, she said alignment has contributed to increased speed and efficiency of payments, as well as opening the path to increased competitiveness and innovation.

"This conference has continually proved itself as an important platform for exchange of opinions, in the spirit of cooperation and mutual respect. In this context, let me quote an ancient African saying 'If you want to go fast, go alone, if you want to go far, go together,'" said van Dijk.

The two-day conference brings together numerous experts, representatives of the European Central Bank and central banks of countries from the EU and the region, the Black Sea and North Africa, Bank for International Settlements, European Payments Council, national financial regulators, domestic banking sector, as well as representatives of national and international institutions within the fintech sector.

Photo: National Bank of North Macedonia