Payments/BG
Bulgaria
ISO BG · 1 scheme
Summary
- Blink is Bulgaria's instant payment system in BGN (20.36% of transfers)
- BISERA6 processes BGN domestic payments via BORICA
- Mobile Lookup enables phone number-based P2P payments
- TIPS connection achieved December 2024 for instant EUR
- UBB became largest bank after KBC acquisition (2023)
Banking landscape
Central Bank
- Name: Bulgarian National Bank (BNB)
- Website: https://www.bnb.bg/
- Role: Banking supervision, TARGET-BNB operator, Euro adoption preparation
Major Banks (2024)
| Rank | Bank Name | Total Assets (BGN) | Market Share | Owner |
|---|---|---|---|---|
| 1 | United Bulgarian Bank (UBB) | 37,463 M | 19.55% | KBC Group (Belgium) |
| 2 | DSK Bank | 36,461 M | 19.03% | OTP Group (Hungary) |
| 3 | UniCredit Bulbank | 34,897 M | 18.21% | UniCredit (Italy) |
| 4 | Eurobank Bulgaria (Postbank) | 22,558 M | 11.77% | Eurobank (Greece) |
| 5 | First Investment Bank | 15,760 M | 8.22% | Domestic |
Market Structure
- Top 5 Concentration: 77% of banking assets
- Foreign Ownership: Dominant (UBB, DSK, UniCredit, Postbank)
- First Investment Bank: Largest domestic bank
- Consolidation: Active M&A activity (UBB acquired KBC 2023)
Recent Consolidation
- 2023: UBB acquired KBC Bank Bulgaria
- Postbank acquired Alpha Bank Bulgaria and Piraeus Bank Bulgaria
- DSK Bank part of Hungarian OTP Group
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| BISERA6 | BORICA AD | ACH (BGN) | Active |
| BISERA | BORICA AD | SEPA (EUR) | Active |
| Blink | BORICA AD | Instant BGN | Active |
| TARGET-BNB | BNB | RTGS | Active |
| TIPS | Eurosystem | Instant EUR | Active (Dec 2024) |
BORICA AD
- Founded: National payment infrastructure operator
- Licensed by: Bulgarian National Bank
- Systems: BISERA, BISERA6, Blink, card payments
- Oversight: BNB (direct), ECB (indirect)
BISERA6 (BGN Domestic)
- Domestic BGN credit transfers
- Amounts up to BGN 999,999,999.99
- Bulk, instant, and budget payments
- Based on SEPA schemes
BISERA (EUR SEPA)
- SEPA credit transfers in EUR
- SEPA direct debits in EUR
- Connected to STEP2 (EBA Clearing) since July 2024
- Full SEPA reachability
Mobile payment apps
| App Name | Bank | Blink | Phone Proxy | SEPA Instant |
|---|---|---|---|---|
| UBB Mobile | UBB | Yes | Yes | Yes |
| DSK Smart | DSK Bank | Yes | Yes | Yes |
| Bulbank Mobile | UniCredit | Yes | Yes | Yes |
| m-Postbank | Postbank | Yes | Yes | Yes |
| My Fibank | FIBank | Yes | Yes | Yes |
Common Features
- Blink instant BGN payments
- Mobile Lookup phone payments
- SEPA EUR transfers
- Card management
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Mobile Lookup | Phone proxy | Phone # | 925K accounts | — |
Sources
- BORICA - Instant Payments 3 Years
- BORICA - BISERA
- BORICA - BISERA6
- EPC - Instant Payments Bulgaria
- TheBanks.eu - Bulgaria Major Banks
- Lightspark - Bulgaria Instant Payments
- Novinite - Euro Preparation
- BORICA - Instant BGN Live
- Novinite - Eurozone Integration
- Economic.bg - Bank Mergers
Full country report
Schemes
Standards
Primary · 1