Serbia Introduces Cash Back Service

In an effort to encourage the use of payment cards, citizens are now able to withdraw cash at points of sale during the purchasing of goods

The National Bank of Serbia and the Ministry of Finance have informed the public that a new service, known universally as cash back, will be introduced in the coming period. Under this service, citizens will be able to withdraw cash from the seller at POS terminals during purchases of goods and services using payment cards in outlets dealing with commercial retail sales.

Cash back services can be enabled at all outlets that deal with commercial activity and have POS terminals – in shops, kiosks, supermarkets, megamarkets etc. The condition for providing a cash back service is that the payment of cash is linked to a transaction in which goods and services are paid for.