Croatia Cards and Payments: Opportunities and Risks to 2028

The ‘Croatia Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Croatia 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 (2020-24e).

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 (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’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 ‘Croatia Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Croatia cards and payments industry, including:

• Current and forecast values for each market in the Croatia 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 Croatia cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Croatia cards and payments industry.

Key Highlights

• Croatia adopted the euro as its national currency on January 1, 2023, replacing the Croatian kuna (HRK) and becoming the 20th member of the euro area. The transition was executed smoothly, with no disruptions to the payment system, cash shortages or long lines at banks and ATMs. Dual pricing, displaying both the kuna and euro, was implemented before the official switch to ease consumer adaptation. The European Exchange Rate Mechanism set a fixed conversion rate of EUR1 = HRK7.5345. Individuals could exchange up to HRK100 in banknotes and HRK100 in coins per transaction at no cost. However, an additional fee was charged for larger quantities.
• Croatia’s NCSInst instant payment scheme was developed by Fina and was launched in October 2020. With Croatia adopting the euro as its new currency, the system was rebranded as EuroNCSInst on January 1, 2023 and it is aligned with the rules of the SCT Inst scheme of the European Payments Council. The scheme operates 24 hours a day, seven days a week, 365 days a year. EuroNKSInst settles funds in near real time, with recipient banks in the country required to credit amounts to customers within five seconds. There is a maximum of EUR100,000 ($108,126.93) per transaction and it supports both individual and business transactions. As of August 2024, there are seven participants in Croatia.
• The use of payment cards is on the rise; the number of contactless cards in the country increased from 5.7 million in 2020 to 6.4 million in 2024e at a CAGR of 3.1%. The introduction of contactless cards on public transport is also aiding the adoption of payment cards. For instance, in April 2024, the payment infrastructure for transit and mobility provider Littlepay introduced a contactless EMV ticketing system in the bus network of the municipal utility provider Libertas in Dubrovnik, Croatia. This system allows passengers to use contactless bank cards, credit cards or digital wallets to pay for bus fares; making it more convenient for residents, commuters, and tourists. This initiative is part of a broader effort to modernize the ticketing system; providing flexibility and ease of use for passengers.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Croatia along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cash, cards, credit transfers and direct debits.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

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