NBS: DinaCard Payment in Installments 37% Higher in Q3 2023 Compared to Same Period in 2022

In Q3 2023, the turnover made from DinaCard payments in installments totaled RSD 2.6 billion, up by 37% from Q3 2022, while the number of transactions equaled 310,342, an increase of 31% y-o-y, announced the National Bank of Serbia (NBS).

Also, the total number of instalments in Q3 2023 was around 1.4 million, i.e. 32% more installments than in the corresponding period a year before, the press release adds. As reminded, at the initiative of the NBS to offer users a cashless payment instrument that would allow them to make deferred payments within their disposable income and without the need for additional borrowing through bank loans, payment in installments using the DinaCard debit cards has been enabled.

– In terms of costs to the user, payment in installments using debit Dina cards has all of the advantages of cheque payments, with the addition of being much faster and easier – users need only choose the number of installments and the transaction is executed just as any payment card transaction at a POS terminal. Another advantage is that there is no interest on these transactions or any other fees associated with deferred payments – the NBS points out.

Also, merchants who have enabled payment in installments using the debit Dina card have recognized the multiple advantages of this payment service given that payments are executed quickly and efficiently, without causing hold-ups at the check-out, which is typical for cheque payments. Since processing fees are much lower in the DinaCard system when compared to international card systems, when executing DinaCard payments, either deferred or in installments, merchants pay a much lower fee than with similar products of foreign card systems, which makes Dina the go-to card for merchants and this type of payments, the NBS says.

Narodna banka Srbije Beograd

National Bank of Serbia

NBS

DinaCard

Dina card

payment in installments

interests

merchants

check outs