Skip to content
World Watch

Fintech & payments regulation in Montenegro (2026)

Fintech and digital payments in Montenegro: licensing regime.

Montenegro operates a dedicated, in-force licensing regime for payment institutions and electronic money institutions under the Payment System Law, which the CBCG supervises and which is aligned with the EU PSD2. The CBCG licenses and maintains public registers of payment institutions, e-money institutions and their agents, and the PSD2-based amendments (in force 8 October 2023) introduced open banking (payment initiation and account information services) and strong customer authentication. Montenegro joined the SEPA geographical area in November 2024 and began operational use of SEPA schemes in October 2025, with a TIPS-based 24/7 instant-payments platform planned for 2026.

Last verified Official sources first · MethodologyCompare Montenegro with other countries

Legal framework

Payment System Law (Law on Payment Transactions), as amended Sept 2022 / in force 8 October 2023, harmonized with EU PSD2; supervised by the Central Bank of Montenegro (CBCG)

Key points: digital payments & fintech in Montenegro

  1. Regulator & core law

    The Central Bank of Montenegro (CBCG) regulates, oversees and improves the payment system under the Payment System Law, which governs payment services, payment institutions, e-money institutions and payment systems, and maintains the official registers of payment and e-money institutions and their agents.

    cbcg.me cbcg.me

  2. PSD2 harmonization in force

    The Law Amending the Payment System Law transposes the EU PSD2; it was adopted by Parliament on 29 September 2022 and entered into force on 8 October 2023, strengthening payment services competition, transparency and consumer protection.

    cbcg.me cbcg.me

  3. E-money institution licensing

    An electronic money institution must be a legal entity seated in Montenegro holding a CBCG license to issue e-money, with minimum share capital of EUR 350,000; it may also provide payment services and related credit but may not take deposits. The CBCG has issued implementing decisions including on own funds of e-money institutions.

    cbcg.me cbcg.me

  4. Open banking (PIS/AIS)

    The PSD2-based law introduced two new regulated payment services, payment initiation services and account information services, requiring banks to open their APIs so authorised third-party providers can initiate payments and access account information.

    cbcg.me cbcg.me

  5. Strong customer authentication

    CBCG implementing rules include a Decision on Ensuring Strong Customer Authentication and common, secure open standards for communication, mirroring PSD2 security requirements, alongside decisions on safeguarding payment service users' funds.

    cbcg.me

  6. Instant-payment rails & SEPA

    Montenegro joined the SEPA geographical scope on 21 November 2024 and began operational use of SEPA schemes from October 2025; the CBCG launched its RTS/X system on 26 May 2025 (online clearing for transactions up to EUR 1,000), with a TIPS-clone platform planned to enable 24/7 instant payments from 2026.

    cbcg.me europeanpaymentscouncil.eu cbcg.me

Sources

  1. cbcg.me/en/core-functions/payment-system
  2. cbcg.me/en/about-us/legislation/regulations/payment-operations-and-payment-sy
  3. cbcg.me/en/public-relations/news/press-releases/the-law-amending-the-payment-
  4. cbcg.me/en/public-relations/blog/psd2-for-more-convenient-and-simpler-access-
  5. cbcg.me/en/core-functions/payment-system/registers
  6. cbcg.me/en/public-relations/news/press-releases/montenegro-is-now-part-of-the
  7. europeanpaymentscouncil.eu/news-insights/insight/montenegro-joins-sepa-new-chapter-payments-and-
  8. cbcg.me/en/public-relations/news/press-releases/montenegro-and-sepa-faster-an

Next for Montenegro: Digital Nomad & ResidencyDedicated visa

Next topic

Orientation, not legal advice: verify against the primary sources linked above. Last verified 25 May 2026. Methodology & how to cite · State of Technology Regulation 2026