As many as 61% of businesses state that the introduction of cashless payments is a response to the growing needs of their clients, while 57% emphasize their importance, particularly in sales to foreign customers and tourists. Overall, around two-thirds of businesses see a positive business impact from implementing card payments.
These are just some of the findings from a new Visa study titled “The Value of Payment Digitalization,” conducted in Bosnia and Herzegovina. The results highlight how small businesses, retailers, and artisans perceive digital payments.
“The research results only confirm what we hear daily from the field: the digitalization of payments is no longer a privilege, but a prerequisite for the growth and development of small businesses, especially in the tourism sector. Tourists recorded a total of 411,998 overnight stays, which is a 20.7% increase compared to June 2023, according to the Agency for Statistics of Bosnia and Herzegovina. This is a clear signal of the country’s enormous tourism potential. Through a joint initiative with Monri Payments, we will help as many small businesses as possible to digitalize their payments and become more competitive—not just locally, but globally. Because when a small business grows, the whole society grows as well,” said Ana Drašković, Vice President and General Manager of Visa for the Southeast Europe region.
Nearly 30% of businesses say they are ready to invest further in new technologies—particularly contactless payments and digital wallets.
For them, this means easier expense tracking, faster transaction processing, a better image in the eyes of consumers, and, ultimately, greater potential for growth and profit. For clients, it means security, convenience, and freedom of choice. For the market, it’s a step closer to a modern, competitive economy.
“Through our partnership with Visa, Monri Payments is proud to participate in this important project that brings modern payment infrastructure to the very heart of Sarajevo—Baščaršija and the Old Town. This initiative is focused on enhancing the operations of local entrepreneurs by introducing card payments, to strengthen the tourism offer and improve the customer experience—for both domestic and foreign visitors. We aim to enable simple, fast, and modern payments in the everyday lives of local artisans, hospitality businesses, and retailers—from souvenir shops and craft stores to traditional eateries, pastry shops, and accommodation providers. We believe that Baščaršija deserves digital solutions that respect its past and support its future,” said Sabina Maglić, Board Member and Executive Director of Monri Payments in Bosnia and Herzegovina.
