Croatia Statistical Report 21-22

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PAYMENTS IN CROATIA

Croatia is a unitary state using a parliamentary system of governance. Croatia joined the European Union in 2013 but has not yet joined the euro zone. In September 2021, Croatia signed a Memorandum of Understanding with the European Commission and member states of the eurao zone, detailing the preparatory steps enabling Croatia to join from 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. 

Driven by the development of social media and mobile devices, the emergence of permanently connected consumers has impacted their interactions with brands but also their expectations of how to shop using the increasing number of touch points between consumers and merchants, e.g.: 

  • Using mobile devices in-store to look up products or additional information on the internet 
  • Using mobile devices in-store to shop at the same merchant or online at another merchant 
  • Using mobile devices to purchase at home in online shops or scan outdoor for advertised products 
  • Using mobile apps to shop online, or using QR-codes to bridge from merchant posters to their online shops 

The ongoing rollout of a mature online and mobile communication infrastructure is an enabler for digital card payment transformation and for Open Banking payments in Croatia. 

In a few years from now, mobile banking apps and mobile payment apps are expected to combine account management, digital payment services, personal finance management and value-added digital services from location finders to digital vouchers. 

Cash payments, card payments and cardless payments directly from bank accounts (A2A payments) remain all relevant for Croatian merchants and are heavily used by Croatian consumers. 

This country profile provides an introduction into two competing payment ecosystems in Croatia: 

  • Card payment ecosystem 
  • Cardless Open Banking payment ecosystem 

STATISTICAL KEY FIGURES FOR 2020 PROVIDED IN THIS PROFILE:

 UPDATED: tables with card business data 2016-2020; growth rates: Y-o-Y, CAGR
 Population, Cards per Capita, Card Value per Capita
 Debit Cards, Credit/Delayed Debit Cards, Total Cards
 Card payments by number and by value, ATV per card, payments per card/year
 ATMs, POS terminals, ATMs/POS terminals per 1 million capita
 ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
 POS payments by number/by value, ATV per POS payment, TXs per POS/month
 Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
 Issued Card brands by individual major issuer bank
 Accepted card brands by individual major acquirer
 Drill down into the debit card use and credit cards use details

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VERSION

Version 1.0 - last updated Wednesday 26th January 2022