Payments and e-commerce in Montenegro

Discover how Montenegrins like to shop and pay online

Exactly 80% of Montenegrins are connected to the Internet and 77% have an Internet-enabled smartphone. Between 2022 and 2025, the e-commerce market in Montenegro is expected to grow at a rate of 16% a year [1]. Montenegro is a well-connected small and compact market with good links to the main centres of European commerce and logistics.

Almost three quarters of adults in Montenegro have a bank account. The digital payments market was worth US$1.1 billion in 2022 and is projected to grow at a rate of 21% a year between 2022 and 2027 [2]. Any e-commerce merchant that doesn’t have a local payment strategy is potentially missing out on a huge chunk of the online market in Montenegro.

  1. https://www.statista.com/outlook/dmo/ecommerce/montenegro
  2. https://www.statista.com/outlook/dmo/fintech/digital-payments/montenegro

Montenegro

General Information

  • Population 0.6 m
  • Population 15 + 0.5 m
  • Online Population 0.5 m
  • Area 13,812 km2
  • Currency EUR
  • GDP 5.5 bn $US
  • GDP per Capita 8,757 $US
Banked population
  • Montenegro 73%
  • Eastern Europe & the CIS 72%
  • World 67%
Credit card penetration
  • Montenegro 20%
  • Eastern Europe & the CIS 22%
  • World 19%
Internet penetration
  • Montenegro 80%
  • Eastern Europe & the CIS 76%
  • World 62%
Smartphone penetration
  • Montenegro 77%
  • Eastern Europe & the CIS 62%
  • World 70%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Montenegro

Local Payment Methods

BitPay Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysafecard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Paysera Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay SecurePay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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