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FinTechs belonging to this category provide identification services, which are required for most banking services.
Introduction
Attitude of the country towards identification services
No reservations seem to be present in Croatia with respect to this type of services. They are perceived as a key part of digitalisation and use of modern payment services.
Legal affairs
Obligations and requirements to provide identification services
Identification services form a part of providing modern payment services and considering that online banking services are provided by licenced banks, any obligations, and requirements regarding licencing with respect to identification services should be covered by the said authorisations.
The PSA prescribes that the payment service provider shall establish appropriate security measures to protect the secrecy and integrity of personalised security credentials of payment service users.
Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area
N/A.
Economic conditions
Market size for identification services and biggest companies in this business area
No comprehensive statistics seem to be available. It is nevertheless to be noted that the market is dominated by banks as main providers of identification services relevant for the provision of payment services.
Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area
N/A.