Albania has been ranked as the fourth most cash-dependent country in the world, according to a recent global analysis referenced by several financial outlets. The data shows that nearly 90% of all payments in the country are still made in cash.

The report suggests that Albania remains far behind European standards when it comes to digital payments and banking inclusion. This gap is becoming a growing concern as the country pushes toward deeper economic integration with the EU.

Experts say the high use of cash is linked to several factors. Many citizens still avoid or lack access to banking services. Rural areas continue to face weak internet infrastructure. Small businesses often do not have POS terminals. The informal economy is widespread. And culturally, many Albanians continue to trust physical money more than digital systems.

Analysts warn that this heavy reliance on cash makes tax collection harder and helps the informal economy thrive. Billions of euros are believed to circulate outside the banking system, limiting transparency and slowing economic progress.

Authorities have announced steps aimed at reducing cash dependency, including expanding access to POS devices and limiting large cash payments. Prime Minister Edi Rama has previously stated an ambition for Albania to move toward becoming a “cashless country” in the coming decade, though experts note that major reforms are needed for such a goal to be realistic.