Pilot project on fast payments: now Myiute is your wallet!

In the spring of this year, Ms. Delina Ibrahimaj, Minister of State for Entrepreneurship and Business Climate, in collaboration with the Startup Albania organization, presented to the public a very important project for the development and digitalization of fast payments. This pilot project, at its core, had the process of financial education for the population, introducing them to the characteristics and benefits of digital payments.

In this project, 8 financial institutions participated, which made available to citizens, 8 different fintech applications that serve to make instant digital payments, in different industries that citizens often encounter in their daily lives. The Ministry of State for Entrepreneurship and Business Climate selected 300 Albanian citizens, respectively in Tirana, Peshkopi and Përmet, who were provided with a fund of 10,000 lek, transferred to the respective digital wallet accounts that they would use. In this way, these citizens were able to spend this money by making payments in supermarkets, pharmacies, bars, restaurants, etc.

One of the 8 applications used by citizens for this project is Myiute: a fintech app that is like a wallet, but easier to use. Through the Myiute application, all iute customers can make instant payments to hundreds of different partners, in the simplest way: just scan the iute QR code near the business cash register, and the payment is made in real time.

Ms. Afërdita is one of the citizens who is part of the pilot project of fast digital payments that is using the Myiute application. She told us her experience with the fintech industry and how easy it is to pay a bill in a supermarket, by scanning the QR code through the Myiute application. “Now my phone is my wallet” – says Afërdita, who appreciates the simplicity and speed of the Myiute application.