Payment systems

Published: 31/1/2015
The CNB shall grant authorisation for the operation of a payment system if the rules of operation of the payment system meet the conditions and if, on the basis of the application, documentation and available information, it assesses that all of the set conditions are met.

A payment system in the Republic of Croatia is a payment system in which at least one participant is the provider of payment services, authorised to provide payment services by the CNB, whose operator may be: a payment institution having a head office in the Republic of Croatia, a credit institution having a head office in the Republic of Croatia, an electronic money institution having a head office in the Republic of Croatia, another legal person having its head office in the Republic of Croatia, established as a joint stock company or as a limited liability company, another legal person having a head office in the Republic of Croatia which may operate a payment system in accordance with a special law, the CNB and a branch of a legal person from a foreign country having a head office in the Republic of Croatia.

A payment system operator shall apply to the CNB for authorisation for the operation of a payment system. The application for authorisation for the operation of a payment system should be accompanied by all required documentation and data prescribed by Article 122, paragraph 2 of the Payment System Act.

The CNB shall grant authorisation for the operation of a payment system if the rules of operation of the payment system meet the conditions and if, on the basis of the application and documentation referred to in Article 122, it meets the conditions referred to in Article 123 of the Payment System Act. The CNB shall refuse an application for authorisation for the operation of a payment system if it assesses that any of the conditions referred to in Article 123 of the Payment System Act has not been met.