Payment institutions

Published: 31/1/2015
The CNB will grant authorisation to provide payment services if it assesses from the application and available information that all of the set conditions are met.

A payment institution having its head office in the Republic of Croatia is a legal person which has been authorised by the CNB to provide payment services.

The CNB grants authorisation to provide one or several payment services. Pursuant to the provisions of the Payment System Act, upon receipt of authorisation to provide payment services from the CNB, a legal person may enter payment services into the register of companies.

A legal person having its head office in the Republic of Croatia submits an application for authorisation to provide payment services to the CNB, accompanied by all necessary documentation and data prescribed by Article 69 paragraph 2 of the Payment System Act.

The CNB decides about the application for authorisation in an administrative procedure, and it grants authorisation to provide payment services to the legal person that submitted the application. The CNB grants authorisation to provide payment services provided that it assesses from the submitted application and available information that all of the conditions referred to in Article 70 of the Payment System Act are met. The CNB shall refuse an application for authorisation to provide payment services if it assesses that any of the prescribed conditions in Article 70 of the Payment System Act has not been met.

On the basis of the granted authorisation, the payment institution may provide payment services under the conditions laid down in the Payment System Act, within the territory of another member state, through a branch, an agent or directly. A payment institution which intends to provide payment services within the territory of another member state shall notify the CNB about it.