Payments in Bulgaria Market 2018 – Current and Future Plans

Pune, India, 29th March 2018: WiseGuyReports announced addition of new report, titled “Payments Landscape in Bulgaria: Opportunities and Risks to 2021”.


“Payments Landscape in Bulgaria: Opportunities and Risks to 2021″, report provides detailed analysis of market trends in the Bulgarian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash and payment cards during the review-period (2013-17e).


The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.


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The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.


Companies mentioned

OTP Bank

KBC Bank

UniCredit Bank

Central Cooperative Bank


First Investment Bank

Raiffeisen Bank

United Bulgarian Bank

Access Finance





This report provides top-level market analysis, information and insights into the Bulgarian cards and payments industry, including –

– Current and forecast values for each market in the Bulgarian cards and payments industry, including debit and credit cards.

– Detailed insights into payment instruments including credit transfers, direct debit, cash, and payment cards. It also, includes an overview of the country’s key alternative payment instruments.

– E-commerce market analysis.

– Analysis of various market drivers and regulations governing the Bulgarian cards and payments industry.

– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.



– The share of domestic scheme provider BORICA has been declining, with international scheme providers Mastercard and Visa taking charge of the debit card market. BORICA’s share fell from 3.9% in 2013 to 1.3% 2017 in terms of number of cards in circulation. To regain its presence and to compete with international schemes, BORICA launched national card scheme Bcard in July 2017. As of November 2017, six banks and several non-banks have started issuing Bcard in the country.

– American Express exited the Bulgarian market in 2017. In July 2017, Postbank (subsidiary of Eurobank Group) – which was the sole issuer of American Express cards – ceased both the issuance and maintenance of American Express pay-later cards in the country. The bank’s existing American Express cards were replaced with Mastercard-branded cards, which contributed to the growth of Mastercard’s pay-later card share in 2017.

– Contactless payments are gaining traction in Bulgaria. All major banks now offer contactless cards in the country, while Visa and Mastercard have launched their respective contactless technologies, payWave and PayPass. According to Visa Europe, Bulgarian contactless payments via Visa cards rose by 612% over the 12-month period to April 2016. Almost 40,000 contactless terminals accept Visa contactless cards in the country. To capitalize on this trend, in March 2017 CIBANK collaborated with Mastercard to become the first bank in Bulgaria to introduce contactless ATMs.


Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Bulgarian cards and payments industry and each market within it.

– Understand the key market trends and growth opportunities in the Bulgarian cards and payments industry.

– Assess the competitive dynamics in the Bulgarian cards and payments industry.

– Gain insights into marketing strategies used for various card types in Bulgaria.

– Gain insights into key regulations governing the Bulgarian cards and payments industry.


Table of Content: Key Points

Market Overview

Executive Summary

Card-based Payments

E-commerce Payments

Alternative Payments

Payments Infrastructure & Regulation





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