CONTEMPORARY PAYMENT SYSTEMS IN THE REPUBLIC OF SERBIA: TECHNOLOGICAL TRANSFORMATION, CONSUMER SENTIMENTS, AND STRATEGIC PERSPECTIVES

Miloš Milanović; Nikola Pavlović; Marko Savić

doi:10.5937/ekonsig2601035M

Authors

Miloš Milanović Faculty of Economics, Pristina University, Kosovska Mitrovica Author https://orcid.org/0000-0002-4684-6306
Nikola Pavlović Academy of Applied Studies Kosovo and Metohija Author https://orcid.org/0000-0001-5466-576X
Marko Savić Academy of Applied Studies Kosovo and Metohija Author https://orcid.org/0000-0002-0254-8171

DOI:

https://doi.org/10.5937/ekonsig2601035M

Keywords:

Payment Systems, Digital Transformation, Consumer Sentiment, Financial Infrastructure, SEPA Alignment

Abstract

This paper provides a comprehensive evaluation of contemporary payment systems in the Republic of Serbia, examining the intersection between institutional infrastructure upgrades and empirical financial consumer behaviour. Structurally, the analysis highlights recent macro-environmental milestones executed by the National Bank of Serbia, including the deployment of the high-performance DinaCard Switch, advanced EMVCo security protocols, and the continuous growth of the Instant Payment System (IPS). To evaluate market readiness, primary empirical research (N = 30) was conducted to track user adoption frequencies, safety perceptions, and transitional barriers regarding digital instruments. The empirical findings reveal a distinct development paradox: while infrastructure efficiency is exceptionally high, a psychological trust deficit and deeply ingrained cash habits (46.7%) restrict total mobilization. Ultimately, the paper synthesizes these insights to establish a strategic optimization roadmap, advocating for targeted financial literacy frameworks, transparent dispute resolution integration, and regulatory alignment with the Single Euro Payments Area (SEPA) to accelerate cashless integration.

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