The Adoption and Challenges of E-Payments in Albania: Trends, Security Concerns, and Future Prospects

Technological and digital advancements have shaped every industry and activity nowadays, with finance and banking being among the pioneers in integrating modern technologies. Payments, as a fundamental aspect of the transactions individuals and businesses carry on daily, need a close study of evolving trends, advantages, and challenges at both local and global levels. This paper aims to explore the adoption of electronic payments in the Albanian environment, identifying the most prominent barriers and strategies for further promotion. This research highlights the hurdles both e-payment service users and providers should overcome by analyzing the current state. A combination of qualitative and quantitative methodologies was employed to establish the framework of this study, and a site survey was the main instrument to give answers to the study questions. The findings emphasize the necessity of combined efforts from all stakeholders to enhance adoption of e-payment in the country, accompanied by measures that enable and ensure their secure, convenient, fast, and cost-effective use. This study provides academic and practical implications for advancing electronic payment systems in Albania.