Better Way – Cashless Payment Initiative
Duration
01.06.2026. - 31.08.2028.
Budget
272.804,50 €
Project Description
“Better Way” is an initiative aimed at improving financial inclusion, promoting cashless payments and expanding POS infrastructure in Bosnia and Herzegovina. The project is a joint initiative of GIZ, Mastercard and Visa, while its implementation in Bosnia and Herzegovina is entrusted to the Sarajevo Economic Region Development Agency – SERDA and the Chamber of Commerce and Industry of the Republic of Srpska.
The project aims to provide a greater number of micro, small and medium-sized enterprises with access to modern payment methods, improve financial literacy among citizens and the business community, and contribute to business modernisation, fair market competition and the reduction of the informal economy.
One of the key components of the project is the POS Programme, through which eligible and interested merchants will be provided with subsidised use of POS terminals and the possibility to accept cashless payments under more favourable conditions. During their participation in the Programme, beneficiaries will be offered a transaction fee of up to 1.5%, with the possibility of using up to three POS terminals, i.e. one terminal per business location. Individual beneficiaries may use the Programme benefits for up to 12 months.
The project is open to relevant market participants and currently involves nine banks and four POS terminal providers, alongside GIZ, Mastercard, Visa, SERDA and the Chamber of Commerce and Industry of the Republic of Srpska.
The project envisages the inclusion of approximately 5,000 new micro, small and medium-sized enterprises in the POS Programme.
The project is expected to contribute to an approximately 40% increase in the number of POS terminals, a 10% increase in financial literacy, as well as a 10% increase in citizens’ willingness to use cashless payment methods.
In addition to direct support to businesses, the project includes information and educational activities targeting citizens, merchants and other relevant stakeholders on the benefits of digital payments, as well as activities aimed at improving the regulatory and institutional framework for the development of electronic payments in Bosnia and Herzegovina.
Through the implementation of the “Better Way” initiative, the project seeks to contribute to the development of a more accessible, modern and inclusive payment system, strengthen the competitiveness of small businesses and support the further digitalisation of the economy of Bosnia and Herzegovina.
Partners
Initiative partners: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, Mastercard and Visa
Implementing partners in Bosnia and Herzegovina: Sarajevo Economic Region Development Agency – SERDA and the Chamber of Commerce and Industry of the Republic of Srpska
Contacts
Faruk Cerić
Sarajevo Economic Region Development Agency – SERDA
E-mail: faruk@serda.ba