The number of internet and mobile banking users in Bosnia and Herzegovina is constantly rising, while digital transactions are becoming ever more present in the daily business activities of citizens and companies. According to data from the Central Bank of Bosnia and Herzegovina, e-banking services (mobile and internet banking) cover over 1.77 million clients, while commercial banks record an increase in active users of digital channels of more than 30 percent over the past two years, as well as an increase in the total number of digital transactions of more than 35 percent, which indicates growing acceptance and trust of citizens in online financial services.
Official data held by the Central Bank of Bosnia and Herzegovina show that 22 banks offer e-banking services, which precisely encompass a total of 1,770,172 users, including 136,077 legal entities and 1,634,095 natural persons.
Data from Raiffeisen Bank in Bosnia and Herzegovina show that in 2025 alone, the number of digital transactions reached around four million, and further growth is expected this year as well.
“Through the mobile application, which offers a complete ecosystem of digital wallets, users can manage their finances in a simple and secure way,” Raiffeisen told FENA.
User security is a key issue for both commercial banks and the Central Bank of Bosnia and Herzegovina. Raiffeisen Bank continuously applies the latest security standards by introducing advanced technical protection of applications, multi-factor authentication (MFA), and continuous user education. Security improvements are implemented regularly to ensure maximum protection of users and their data.
The Central Bank of Bosnia and Herzegovina monitors the functioning of payment systems, ensures that banks conduct cashless payments in a safe and stable manner, and prescribes high security standards, including multi-factor authentication and the protection of transaction data.
“The development of digital solutions at Raiffeisen Bank involves the use of the infrastructure of the Raiffeisen Bank International Group, ensuring high reliability and technological advancement. Numerous improvements to digital services are planned, including better modules for managing personal data, simpler use of digital wallets, and additional security enhancements. Special attention is given to elderly users and users with a lower level of digital literacy through education, the availability of support in branches, and a simplified user experience,” the bank stated.
The Central Bank of Bosnia and Herzegovina considers the development of online and mobile banking an integral part of the modernization of payment transactions and the digitalization of the financial sector. The strategic plan of the Central Bank envisages the implementation of an instant payment system that will enable faster, more accessible and more efficient electronic transactions.
In addition, the Real-Time Gross Settlement (RTGS) and Giro Clearing systems are being upgraded through a detailed analysis of participants’ needs and the implementation of new technological solutions, aimed at increasing the security, reliability, and interoperability of payment systems.
“One of the strategically important projects of the Central Bank of Bosnia and Herzegovina is the preparation of Bosnia and Herzegovina for entry into the Single Euro Payments Area (SEPA). This involves aligning the legislative and regulatory framework with European standards, adapting technical infrastructure, and educating banks and other participants on SEPA rules and standards,” the Central Bank told FENA.
Within this process, Raiffeisen Bank’s digital application is continuously being improved in line with the PSD2 directive, with a focus on security and simplifying payment processes.
However, cashless payments in Bosnia and Herzegovina are still not fully utilized. According to the Central Bank, 44 percent of payment orders are initiated electronically, while 56 percent are initiated in person, although electronic orders already account for 55 percent of the total value of transactions.
Most citizens who have mobile payment applications do not use them actively. Only one third of users actively use this service, while two thirds have applications installed but do not use them regularly. The Central Bank and commercial banks emphasize that financial education, reliable and secure infrastructure, and ease of use are key factors for greater penetration of digital wallets and mobile applications, especially in rural areas.
“The financial system of Bosnia and Herzegovina is partially ready for the wider use of digital wallets and mobile payment applications. The banking sector is technologically highly developed, especially considering the legal limitations under which it operates when compared to EU countries. Most banks in Bosnia and Herzegovina offer mobile and electronic banking services. Financial education, provided by the Central Bank as well as other institutions and banks, and the availability of adequate infrastructure that enriches the existing payment ecosystem – characterized by security, affordability, speed, and ease of use – form the basis for greater penetration of both digital wallets and mobile applications,” the Central Bank emphasized.
The development of mobile and innovative solutions, including the promotion of mobile wallets, QR payments, and digital banking applications, is expected to increase the acceptance of online services.
“The Central Bank of Bosnia and Herzegovina is actively working on the introduction of standards and infrastructure for digital payments, including the TIPS Clone instant payment system, which should become operational in 2026 and enable instant interbank fund transfers 24/7/365. Work is also underway on the standardization of QR codes to create an infrastructure that is fast, secure, affordable, and simple for all users,” the Central Bank stated.
The security and transparency of digital payments are ensured through regulatory oversight, the legal framework, and institutional measures.
Banks are required to apply high security standards, with supervision carried out by the Central Bank of Bosnia and Herzegovina and entity banking agencies. Fraud prevention and the resolution of fraud related to online payments are conducted through banking procedures, the judicial system, and cooperation with Ministries of the Interior, although a centralized fraud database does not yet exist in Bosnia and Herzegovina.
Digital banking also contributes to financial inclusion by enabling access to basic financial services without visiting a bank branch. The key prerequisites for greater success are stable internet infrastructure, user education, and building trust in digital channels.
The Central Bank of Bosnia and Herzegovina emphasizes that over the next five years it sees itself as a key driver of the development of the digital financial ecosystem.
“The focus will be on further development of payment infrastructure, alignment with European standards, integration with EU payment systems, the development of overlay services for faster, safer, and cheaper payments, and the promotion of financial and digital literacy,” the Central Bank stated.
In the coming period, citizens and businesses in Bosnia and Herzegovina can expect faster, safer, and more innovative digital payment services, while commercial banks plan improvements that will further enhance the practicality, security, and accessibility of online banking, including advanced digital wallets, simpler data management, and support for all users, regardless of age or level of digital literacy.
