Croatian National Bank (HNB) Issues Notification on New Payment Infrastructure

hnb1 August 2016, VG Intelligence Weekly Issue 17

On 26 July, the HNB issued a notification on the implementation of the new payment system scheme in Croatia. The scheme refers to the introduction of the new rules for the National Clearing System (NCS) for payments within the country. On the same day, the news payment system Euro-NCS was launched. This system is used for euro payment transactions, both within the country and in cross-border payments. The Financial Agency (FINA) is responsible for the operational management of both infrastructures. The aforementioned changes are the result of the implementation of the National SEPA (Single Euro Payments Area) Migration Plan, whereby Croatia fulfils its obligations under EU rules. Additionally, the plan establishes the necessary conditions for the adoption of the Euro as official currency, regarding the implementation of cashless payment transactions…

See more