Croatia Cards and Payments - Opportunities and Risks to 2026

Croatia Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s 'Croatia Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in the Croatian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers and direct debits during the review-period (2018-22e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Croatian cards and payments industry, including -

• Current and forecast values for each market in the Croatian cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cash, cards, credit transfers and direct debits. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis .
• Analysis of various market drivers and regulations governing the Croatian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.

• In July 2022, the Croatian Government passed legislation (NN 57/2022) to replace the Croatian kuna with the euro as the official currency of Croatia, effective from January 1, 2023. Throughout December 2022, individuals could exchange kunas for euros at a fixed exchange rate in all commercial banks, offices of the Financial Agency, and Croatian post offices. The European Exchange Rate Mechanism assigned a fixed conversion rate of EUR1 = HRK7.53450. Individuals could exchange free of charge HRK100 ($15.13) in banknotes and HRK100 in coins of any denomination per transaction. However, an additional fee was charged for larger quantities.
• Croatia’s NCSInst instant payment scheme was developed by Fina. With Croatia adopting the euro as its new currency, the system was rebranded as EuroNCSInst on January 1, 2023. The system is now aligned with European SEPA Instant Credit Transfer standards and operates 24 hours a day, seven days a week, 365 days a year. It settles funds in near-real-time, with recipient banks required to credit amounts to their customers no more than 10 seconds after a payment is received. A maximum of EUR15,000 ($17,064.76) per transaction is allowed, with both individual and business transactions supported.
• HPB Bank and Visa Euro have signed a strategic agreement to replace all HPB Bank debit cards with Visa debit cards. As a result of the deal, HPB Bank’s debit card portfolio—which includes Cirus Maestro, Mastercard Debit, and Visa Electron cards—will be replaced with Visa debit cards. As of December 2021, 346,000 cards had been migrated, equivalent to 76% of HPB Bank’s debit card portfolio. This merger has further boosted Visa’s share of Croatia’s debit card market

• Make strategic business decisions, using top-level historic and forecast market data, related to the Croatian cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Croatian cards and payments industry.
• Assess the competitive dynamics in the Croatian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Croatia.
• Gain insights into key regulations governing the Croatian cards and payments industry.