The e-wallet service called Ipay is already present in Serbia and from the beginning of April, this instant payment system will enter its second phase when users will be able to make payments via their bank’s application on their mobile phone, 24 hours a day, 365 days a year.
Electronic commerce has been registering significant growth in the world, while the growth in our region is still quite small. The Serbian government stimulates such e-commerce through a series of measures – says Milan Dobrijević, Head of the Department for Development of the Digital Agenda at the Ministry of Trade, adding that online space is recognized as a driving force behind entrepreneurship and development economy.
The biggest barrier to e-commerce is that citizens are still distrustful about online shopping. Dobrijević said campaigns were being implemented with the view of boosting shoppers’ trust in e-commerce and “towards the more frequent use of credit and debit cards, as well as e-wallets, a service that is already functional in Serbia”.
Although Ipay (which is devised in Serbia) is not widely used at the moment, it is a good counterpart to other similar services like Alipay or Paypal. In Serbia, cash-on-delivery is still the most popular form of payment for the goods ordered online. Dobrijević said that the Serbian regulation is such that it guarantees safety when you purchase something online too, as well as compensation if the ordered goods or services are of low quality. He added that shoppers should also be mindful of the websites they purchase from.
The transfer of money in e-commerce lasts 10 seconds, it is available 24 hours a day, every day of the year. “Ipay (Instant Payment) was introduced in Serbia in October last year, and as of April, shoppers will be able to use Ipay to pay online too” – Ivan Stijović, PTM sales manager says.
He says banks will have to enable their customers to make instant payments at the point of sale, and on the other hand, enable vendors to accept instant payments at the point of sale.
“Ipay users will be able to pay through their bank’s application of their mobile phone or at a website they want to shop from, and this will be acceptable to vendors too”, explains Stijovic.
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