Croatia Statistical Report 2024

INTRODUCTION

Croatia is a unitary state using a parliamentary system of governance. Croatia joined the European Union in 2013 and in September 2021, Croatia signed a Memorandum of Understanding with the European Commission and member states of the euro zone, detailing the preparatory steps enabling Croatia to join from 2023. 

Preparations for Croatia to adopt the euro intensified over 2021, including the preparation of the draft Act on the introduction of the euro as the official currency in Croatia. The Act was passed in the Croatian Parliament on 13 May 2022, and Croatia is to join the euro area on 1 January 2023. The year 2022 was marked by the project to introduce the euro, which became the official currency of the Republic of Croatia on January 1, 2023.

Croatia has an active payment card market, with every individual holding more than two cards on average. Even though card penetration is high, usage is relatively low compared to neighbouring countries. However, contactless usage in particular is growing strongly, helped by a wide merchant acceptance infrastructure. In 2020 Croatia launched its instant payments system, which will drive up usage of digital account-to-account payments over the next few years.

The adoption of the revised Payment Services Directive, PSD2, and disruptive technologies have set the stage for digital payments for the digital economy in Croatia. They have accelerated digital payment transformation and mobile payment services, as well as cardless IBAN-based payments directly from bank accounts. 

In the last decade, Croatian consumers have embraced mobile devices such as tablets, smartphones and Internet of Things (IoT). This change significantly impacts their shopping experience. Consumers have become increasingly connected and they have started to purchase anywhere, at any time, from any device. 

In addition, new consumer demands are a game changer. Croatian consumers like digital banking apps with access to all their accounts at different banks in one single app, with the option to make payments directly from their bank account of choice. Additionally, they appreciate more banking services and payment services added to their mobile banking app. Consumer adoption of digital payments in Croatia is driven by minimal cost, secure payments and a high level of user convenience. 

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

• THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
  
• REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
  
• OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
  
• CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
  
• CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
  
• FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
  
• FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
  
• READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
  
• INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
  
• THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

• UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
• CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
  
• REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
  
• OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
  
• CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
  
• CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
  
• FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
  
• FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.

PRODUCT INFORMATION

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 

VERSION

Version 1.1 - last updated 09/05/2024