Home Payment systems and payment services Macedonian Payment Infrastructure

Macedonian Payment Infrastructure

Payment system is established infrastructure for transfer of funds between participants, which is composed of institutions, instruments, rules, procedures and technical means for secure transmission. Nowadays, payments are usually committed through the use of bank deposits. To make payment, the payer must issue instructions, usually to the bank where they keep money that should be transferred. The instruction can be in a paper form or an electronic instruction using modern technological solutions (credit card, PC or mobile device). Furthermore, the payment instruction is processed and is usually settled without the payer's involvement. Hence, although the payment system is essential for providing payment services to the end users, however, they are not direct participants in the payment system and its payment is executed indirectly through a limited number of direct participants in the payment system.



  1. Payment order is issued to the Payer's Bank.
  2. Payer's Bank delivers the payment order to payment system (a) Retail payment system or (b) RTGS.
  3. Processing the payment instructions and delivering the net positions to the RTGS.
  4. Settlement and issuing confirmations for (a) crediting and (b) debiting to the beneficiary and payers banks.
  5. (a) Crediting and (b) Debiting of the beneficiary and payers accounts.



Macedonian Interbank Payment System - MIPS

MIPS is a system for settlement of large-value and urgent payments in denars in real time on a gross basis (RTGS - Real Time Gross Settlement System). MIPS began operating in July 2001. The NBRNM is the owner and operator of the system.


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Clearing Interbank Systems - KIBS

The Clearing House - Clearing Interbank Systems AD Skopje (KIBS) operates the system for multilateral deferred net settlement for processing of retail payments.


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Securities Settlement Systems

  • Central Securities Depository 
    Central Securities Depository AD Skopje (CSD) is a securities depository incorporated by a license of the Securities and Exchange Commission of the Republic of North Macedonia.
  • CB Bills Depository
    CB bills issued by the National Bank are registered in a CB bills depository on the day of the CB bills auction. 
  • Matching system on OTC markets 
    The matching system on the OTC markets is an electronic system of the Central Bank for matching messages for transfer of ownership of securities that are traded in the OTC markets.