2020•Unpublished venueRequires access
Platni promet u Republici Hrvatskoj
Davor Hemar
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Abstract
Payment operations are an integral part of the economic system of any country. Their basic
function is to enable a safe and effective use of cash as a means of payment as well as the
execution of cashless payment transactions, i.e., the transfer of funds from the payer to the
payee. A successful and safe fuctioning of payment operations is also of exeptional
importance for the central bank. It is the institution responsible for the functioning of the
national payment system, as well as for the overall financial system and all of its participants.
The functioning of payment operations in the Republic of Croatia is regulated by a series of
acts and bylaws, such as the Payment System Act, Electronic Money Act, Act on the
Implementation of EU Regulations Governing Payment Systems, Act on Settlement Finality
in Payment and Financial instruments Settlement Systems, Foreign Exchange Act, as well as
other EU regulations. The Payment System Act governs payment operations, payment
services, payment service providers, obligations to inform payment service users about the
conditions for the provision of and about the provision and use of payment services for the
purpose of the protection and security of financial market participants. Payment operations in
the Republic of Croatia arre carried out through four payment systems: the Croatian Large
Value Payment System (CLVPS), the National Clearing System (NCS), TARGET2 and
EuroNCS. Payment services can be provided by payment service providers (credit institutions
and electronic money institutions) as their business activity includes cash deposits and
withdrawals, the execution of credit transfer payment transactions, standing orders, direct
debits and money remittance, issuing and acquiring of payment instruments and execution of
payment transactions through payment cards and other telecommunication, digital or IT
device. This final paper analyzes the fees for for cash payment services among the observed
banks (Zagrebacka banka d.d., Privredna banka Zagreb d.d. and Erste & Steiermarkischer
bank d.d.).