Payment system in the Republic of Croatia

Published: 31/1/2015 Modified: 27/7/2018
The CNB will grant authorisation for the operation of a payment system if it assesses, based on the application and the submitted documentation, that all the conditions prescribed by the Payment System Act have been met.

Payment systems in the Republic of Croatia means payment systems in which at least one participant is the provider of payment services, authorised to provide payment services by the Croatian National Bank and the operator of which is the person defined under the provisions of the Payment System Act.

Payment systems are operated by payment system operators. Payment system operators may be legal persons established in the Republic of Croatia in the form of credit institutions, electronic money institutions, small electronic money institutions, payment institutions, small payment institutions, other legal persons with a head office in the Republic of Croatia established as joint stock companies or as limited liability companies or those that may operate payment systems in accordance with a special law, the Croatian National Bank and branches of legal persons 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.

Legal persons established in the Republic of Croatia intending to operate a payment system have 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 supported 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 Obrazac za prikupljanje i obradu osobnih podataka.

The Croatian National Bank will adopt a decision authorising the operation of a payment system if, based on the application and the submitted information and the information available to it, it has come to an assessment that all the conditions referred to in Article 157 of the Payment System Act have been met.