FinTechs belonging to this category provide identification services, which are required for most banking services.


Attitude of the country towards identification services

FinTech identification services in North Macedonia may be performed only by licensed institutions in accordance with the Macedonian Law on electronic documents, electronic identification, and confidential services. Performing those activities is licensed activity. The Macedonian Ministry of Information Society and Administration (MISA) is the relevant authority

Legal affairs

Obligations and requirements to provide identification services

Based on the secondary level legislation, for a company to be qualified to issue schemes for electronic identification, the following criteria should be met:

  • adoption of internal rules for the types of information that may be requested, the procedure for proving the identity of entities that have applied for or use means of electronic identification and information about what data can be stored, as well as the period of storage;
  • publishing basic features of the scheme, which includes all applicable conditions, restrictions on use and fees for its provision, including privacy policy;
  • establishing of an efficient record management system for the purpose of keeping records and relevant information, considering applicable standards and good practices regarding data protection and retention;
  • establishing procedures that provide training, qualifications, experience, and skills required to perform the tasks performed by the persons hired by the issuers of electronic identification schemes and their subcontractors;
  • to obtain personnel (employees/contractors) to perform their activity and for provision of the service according to the established procedures for its provision; and 
  • to take measures for protection from damage caused by environmental events, unauthorised access and other factors that may affect the security of the service of the means and facilities used.
The companies offering identification services are licensed and registered by the MISA. Currently there are no fees payable for registering in the Register.

Additional comments regarding the legal situation for identification services or what FinTech’s must be aware of in this business area

Companies operating in the FinTech industry are subject to consumer protection, privacy and data protection, cybersecurity and anti-money laundering legislation, including the Law on Personal Data Protection, the Law on Consumer Protection and the Law on Prevention of Money Laundering and Financing Terrorism.

Economic conditions

Market size for identification services and biggest companies in this business area

Currently, there are only two (2) companies licensed for issuing schemes for electronic identification. There is no data available for their revenues from these services.

Additional comments regarding the economic situation for identification services or what FinTech’s must be aware of in this business area




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