Podgorica, (MINA-BUSINESS) – Representatives of the Association of Montenegrin Banks (UBCG) and the Brussels-based company Paylume have signed an agreement on representing the Montenegrin payment system (NASO) before the European Payments Council (EPC) for the purpose of using and developing SEPA schemes.

The agreement was signed by UBCG Secretary General Bratislav Pejakovic and Paylume representative Kjeld Herreman, who will act as the representative of Montenegrin banks in the EPC working group for the development and maintenance of the schemes.

“It was a true privilege for Paylume to support the Montenegrin banking community in implementing European payment methods, and we are honored to support UBCG and the Central Bank of Montenegro (CBCG) in their continuous progress,” said Herreman.

UBCG explained that NASO, together with CBCG and the National Payment System Committee of Montenegro, will participate in the management of the schemes, their modifications, and monitor all future SEPA changes, ensuring the implementation of scheme amendments along with all necessary documentation, rules, and guidelines. 

The Committee is operationally managed by UBCG, and participation in this body is not contingent upon on membership in the Association.

UBCG explained that, as members of any of the schemes, all banks in Montenegro are also members of the Committee, meaning they have equal rights to make decisions and manage national schemes.