A payment system in the Republic of Croatia means a payment system in which at least one participant is the provider of payment services, authorised to provide payment services by the Croatian National Bank and whose operator is the person defined by the provisions of the Payment System Act.
A payment system is operated by a payment system operator. A payment system operator may be a legal person established in the Republic of Croatia, that is: a credit institution, an electronic money institution, a small electronic money institution, a payment institution, a small payment institution, another legal person with a head office in the Republic of Croatia, established as a joint stock company or as a limited liability company or which may operate a payment system in accordance with a special law, the Croatian National Bank and a branch of a legal person from another country with a head office in the Republic of Croatia.
An authorisation from the Croatian National Bank is required for the operation of a payment system.
A legal person established in the Republic of Croatia intending to operate a payment system has to submit an application to the Croatian National Bank for an authorisation for the operation of a payment system. The application for authorisation for the operation of a payment system should be accompanied by all the required documentation and information as prescribed by Article 158 of the Payment System Act.
In addition to the application and the prescribed documentation, the applicant should also submit a completed and signed Form for the collection and processing of personal data.
The Croatian National Bank adopts a decision authorising the operation of a payment system if, based on the application and the submitted information as well as the information available to it, assesses that all the conditions referred to in Article 157 of the Payment System Act have been met.