Zagrebačka Banka Enters Online Payment Scene with IziPay

Lauren Simmonds

We currently live in a technological age in an extremely quickly developing world. Banks are no longer the sole ”overlords” when it comes to making payments, transfers, and receiving cash quickly. Can IziPay match up?

As many independent platforms realised they found a niche in the financial market by providing a service that operates without the often extortionate charges and boring red tape banks put in the way of money transfers, more and more such platforms have popped up over the years, following the lead of companies like PayPal.

Banks are gradually realising that they too could benefit from such systems, and as such, the largest bank in Croatia, Zagrebačka banka (Zaba) has released IziPay on m-Zaba, which now impressively boasts more than 350,000 users.

As Poslovni Dnevnik/Bernard Ivezic writes on the 30th of September, 2019, one weekend after two of the most successful fintech players in the Republic of Croatia so far, Erste’s Keks Pay and Revolut, boast of their hardly surprising market success, the largest bank in Croatia – Zagrebačka banka, has decided to step onto the online payment scene and allow all users of its mobile application (app) m-Zaba to send money from account to account for free without having to go through the sometimes time consuming IBAN payment processes.

It was this functionality that enabled Erste’s popular Keks Pay to garner 56,000 users and Revolut to reach 50,000 users.

Zaba has so far offered such an option, called IziPay, exclusively through the new Telekom Banking application, which is jointly offered on the market with Croatian Telecom (Hrvatski Telekom).

However, likely seeing its potentially fierce competition, it has now offered such a useful service through its existing mobile application, called m-Zaba, which also the most popular banking mobile application in all of Croatia, with more than 350,000 users at this moment in time.

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