Payment Card Year Books

Bulgaria 2019/2020

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Payment Organisation

BORICA is the Bulgarian interbank organisation and card authorisation centre.

Domestic Card Brand

BORICA is a domestic debit card; many cards are co-badged Maestro.

Bcard is the new national card scheme launched in July 2017.
TransCard are private label cards, also co-badged Mastercard.

Market Structure

Most payments are made with cash, and most card-less payments are credit transfers. Debit cards dominate, mostly used for cash withdrawals.

Rapid growth of card use. Payments on cards have grown 254.04% since 2014, while the value has increased by 199.86%. However, there were just 21.6 card payments per capita in 2018, the lowest in the European countries.

The number of cards issued rose from 106,000 in 1998 to 8.1 million in 2008, when penetration per capita exceeded 1.0 for the first time. In 2018, payment cards issued amounted to 7.43 million.

The banking sector has been privatised and is 77.9% foreign-controlled.

Two of the top ten banks are owned by Greek bank groups. Some further consolidation of sector in 2018/2019.

Emerging Open Banking ecosystem.

Notable Market Trends

Contactless rollout, Bcard cards, HCE NFC pilots, biometric card pilot.

Statistical Key Figures for 2018 provided in this profile:

UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
Population, Cards per Capita, Card Value per Capita
Debit Cards, Credit/Delayed Debit Cards, Total Cards
Card payments by number and by value, ATV per card, payments per card/year
ATMs, POS terminals, ATMs/POS terminals per 1 million capita
ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
POS payments by number/by value, ATV per POS payment, TXs per POS/month
Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
Issued Card brands by individual major issuer bank
Accepted card brands by individual major acquirer
Drill down into the debit card use and credit cards use details

Product information

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout.


1.1 last updated 13th January 2020