Cash withdrawal along with DinaCard purchase at petrol stations of NIS a.d. Novi Sad

The NBS informs the public that, as of today, the company NIS a.d. Novi Sad has made a new and modern functionality available to DinaCard users which makes it easier to get cash without having to go to an ATM or a bank counter. The “Withdraw Dinars” service enables users to withdraw up to RSD 5,000 at the time of making payments at all NIS Petrol and Gazprom petrol stations. As NIS has a wide network of retail facilities in both urban and rural areas, this means that DinaCard holders living in regions with a less developed ATM network will now be able to withdraw their cash in a fast and simple way, at their nearest NIS Petrol or Gazprom petrol station. This service is the fruit of cooperation of the NBS, Banka Poštanska štedionica a.d. Beograd, the largest national card issuer, and the company NIS a.d. Novi Sad, the first company in the Serbian market to have recognised the importance of the above service. As the NBS aims to downsize the costs of card payment processing, the service of cash withdrawal at the time of making a purchase in the DinaCard system will not entail any additional costs for any of the participants in the transaction (banks issuing the cards, banks installing POS terminals and merchants) or for card users.

The service of cash withdrawal at the time of making a purchase enables card holders to make a purchase and withdraw cash at the same time. In addition to the above benefits for DinaCard holders, this service is also significant for merchants, as it decreases cash management time and costs by reducing the amount of cash in the teller. Namely, after cash is paid out to the customer, it is transformed into money on the merchant’s account, whereby the merchant credits this part of receipts to the account. At the same time, by offering the “Withdraw Dinars” service, merchants become more competitive as this will attract more customers to their point of sale.

The first transaction of cash withdrawal at the time of making a purchase was made today at the NIS a.d. Novi Sad petrol station in Belgrade. The event was attended by NBS Governor Jorgovanka Tabaković, representatives of the Banka Poštanska štedionica a.d. Beograd and the company NIS a.d. Novi Sad. The Governor pointed out that the functionality of payment along with cash withdrawal was introduced in the DinaCard system already in September 2017, and that it is only one of the range of intensive activities taken by the NBS in the prior years to further the development of cashless payments. She reminded event participants of the 2018 Law on Multilateral Interchange Fees adopted at the proposal of the NBS, which brought down interchange fees for card payments to the European level. As a result, merchant fees for card payments decreased from 2% before the Law was introduced to 1.6% in one year only. According to the latest data received from banks, the average merchant fee charged in the first half of 2020 was even lower – 1.19%. Another result of this law is the expansion of the acceptance network of POS terminals by as much as 20% from June 2018 until June 2020. At this point, there are over 95,000 POS terminals in Serbia. The Governor also reminded that the NBS implemented the NBS IPS instant payment system, which began to operate on 22 October 2018. The NBS is proud of the fact that this is one of the first instant payment systems in the world, introduced a month before the pan-European solution for instant payment settlement – TIPS. A particularly important part of the system are instant payments at merchant POS. The NIS company was among the first to recognise the advantages offered by the instant payments system and it is currently working, in cooperation with the NBS, on implementing instant payments at its POS.

After noting that the NBS’s operations in the past year have been successful despite the unprecedented challenges, the Governor underscored that the success of the national card system would not have been possible without the support of institutions and companies, such as NIS a.d. Novi Sad, which recognise the quality, benefits and importance of domestic brands. She thanked this company for organising the event and for enabling the new service for national payment card users.

Governor’s Office