System for Instant Payments of NBS – Modern Way of Payment Used for Realization of Millions of Transactions a Month Worth Tens of Billions of Dinars

The system for instant payments of the National Bank of Serbia (NBS) enables one of the most modern ways of payment that currently exist in the world. All day, 365 days a year, citizens and business entities can make payments from any location. The system started working on October 22, 2018.

A total of 3,841,655 transactions was realized in October. According to the data of the NBS, the value of the transactions amounted to RSD 33.3 billion, and the average daily value of the turnover was RSD 1,074.4 million. On September 20, a record daily number of payments, 221,422, amounting to RSD 1,455,188,061.26, was recorded.

Instant payment services

In addition to instant payments at points-of-sale, which are carried out through the methods “IPS pokazi” (“IPS Show”) and “IPS skeniraj” (“IPS Scan”), services such as bill/invoice payment through the scanning of the NBS IPS QR code, and the service “Prenesi” (“Transfer”), the transfer of money by using a mobile phone number, have been developed.

IPS online payment has been enabled by numerous big online traders and, according to the information from the market, IPS online payments are taking part as the chosen manner of payment more and more.



– Such signals from the market are expected, since IPS payments enable small online traders to receive the money from the sale of a product or a service to the account in only several seconds – the NBS says for our portal.

New service “Transfer”

Since September 22, 2021, banks are able to offer the new service “Transfer” to their users within the additional services of the IPS NBS payment system. This service enables citizens to send and receive money in only a few seconds, by using the mobile phone number of the receiver of the payment. This means that it will no longer be necessary to memorize and enter the account number of the receiver of the payment.

Existing function “IPS Scan” to be upgraded soon

The NBS has also oriented its further activities toward the implementation of the deep-link technology as an integral part of the “IPS Scan” method, which aims to upgrade instant online payments in the sense of enabling purchasers to carry out the whole purchase process by using only one device (a mobile phone, for example), in addition to the current model of IPS payments where two devices are used – one where the IPS QR code is displayed and the mobile phone for the scanning of the IPS QR code.



– The payment is done by the purchaser, instead of scanning the IPS QR code, choosing the bank whose mobile banking app they have on the phone, through which they access the online point-of-sale, after which the app is launched and finalizes the purchase through payment authorization. When launching the app, the necessary data for the execution of the payment at that online point-of-sale are automatically downloaded. Mobile banking app users can expect this upgrade of the existing “IPS Scan” function very soon, and traders can already contact their banks in order to enable this kind of IPS payment on their website or m-commerce app – the NBS says.

They add that this form of payment is especially important for the traders that are considering the development of a m-commerce app for the reasons that the implementation of this kind of instant payment in such an app is simple and does not require complex procedures and the storing of confidential data that, for example, is required by COF (card-on-file) in card payments.

More details on IPS payments can be found HERE.

Aleksandra Kekic

Narodna banka Srbije Beograd

National Bank of Serbia

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