Europay International said four banks have decided to form a country association, Europay Croatia.
The move is a sign that Eurocard, Maestro, and other payment services have reached significant enough volumes to require national rules and standards.
Europay International, the Waterloo, Belgium-based regional partner of MasterCard International, said it proposed the formation of Europay Croatia in early 1998. Four banks-Zagrebacka Banka, Privredna Banka Zagreb, Varazdinska Banks, and Bjelovaska Banka-participated in the project to create the entity and in the preparation of the contract with Europay International that gives them a direct stake in the payments system.
The result will be "a higher level of service to local and visiting cardholders through the definition of a clear set of standards and the subsequent expansion of ATM and point of sale networks open to Europay products," said board chairman Kurt Richolt.