Payment methods in North Macedonia

Europe

8methods

3banks

Digital payment transactions grew over 21% in 2024; 235 million cashless transactions conducted

Market takeaways

Digital payment transactions grew over 21% in 2024; 235 million cashless transactions conducted
Card payments lead with 46% share in 2024; digital wallets growing at 44.7% CAGR to 2030
HalkPay and NLB Pay are leading domestic digital wallets with QR and NFC capabilities
Banking sector total assets grew 10.7% to $15.6 billion in 2024; profitability up 21.6%
93% of 2024 cross-border transactions in EUR — SEPA integration would route most as domestic-equivalent

Population

2.1M

Online population

~1.7M (~80%)

Banked population

~75%

Credit card population

~35%

Payment method breakdown

Card46%
Cash on Delivery35%
Bank Transfer12%
E-Wallet6%
Other1%

Card scheme breakdown

Visa52%
Mastercard44%
American Express1%
Local Schemes2%
Other1%

Cross-border e-commerce

Market data coming soon.

Featured payment methods in North Macedonia

All payment methods available in this market, sorted by prominence.

Bank Transfer (Internet & Mobile Banking)

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

Visa

Visa is the world's largest card network, enabling credit, debit and prepaid card payments online, in-store and at ATMs across virtually every market. In the listed countries Visa is a core internationally accepted scheme alongside local methods.

Mastercard

Mastercard is a leading global card network supporting credit, debit and prepaid card payments online, in-store and at ATMs worldwide. In the listed countries it is a core internationally accepted scheme.

HalkPay

Halkbank North Macedonia's mobile payment application offering QR code and NFC payment capabilities. One of the leading domestic digital wallets driving the 44.7% CAGR growth in the wallet segment.

NLB Pay

NLB Bank's mobile payment solution providing QR and NFC payment functionality. Together with HalkPay, represents the vanguard of mobile wallet adoption in urban North Macedonia.

Internet Banking Transfer

Online banking used for bill payments and some e-commerce transactions. The National Bank of the Republic of Macedonia (NBRM) publishes payment statistics showing steady growth in electronic transactions.

QR Code Payments

QR code payments via bank mobile apps are gaining traction for retail and peer-to-peer use, driven by HalkPay, NLB Pay, and other bank apps. Offering fast and secure mobile payments without requiring card swipes.

Cash on Delivery (COD)

The single most-used payment method, with approximately 45-47% of e-commerce orders still settling in cash at delivery. Consumer distrust of online payments remains the primary driver. Most major Serbian logistics providers (Post of Serbia, DExpress, etc.) offer COD collection.

Featured banks in North Macedonia

All banks operating in this market, sorted by prominence.

OTP Bank

Budapest, Hungary

OTP Bank is Hungary's largest bank and the dominant financial institution in the country, with significant regional presence across Central and Eastern Europe and the Balkans.