Bulgarias Transcard to Issue the First JCB Smart Card in Europe

Transcard AD, established by a major petroleum company, Petrol Holding, and an IT company, SISTEC Holding AD, in December 2001, was the first to issue credit cards in Bulgaria in 2002. Now it ranks the first in the market with 186,000 issued credit cards. The credit card market in Bulgaria has a significant potential for expansion, as only 3% of payment transactions are made by credit card according to BORICA (Bank Organisation for Payments Initiated by Cards Ltd.) The newly issued TRANSCARD JCB card is Bulgarias first international credit card in compliance with EMV, and offers Classic and Gold cards for individuals, a Business card for corporate clients, and a wide variety of TRANSCARD services. The advantages of chip technology provide greater protection against fraudulent use and counterfeiting than magnetic stripe cards. Furthermore, TRANSCARD JCB cardmembers will enjoy a 45-day interest-free period for purchases and cash-back benefits that vary from 1 to 30%, as well as an extensive worldwide acceptance network of over 13 million merchants. Bulgaria is ready to join the EU in 2007, the perfect opportunity for making the TRANSCARD JCB card the must-have international brand card. The TRANSCARD JCB card is expected to rapidly become a leading international credit card in the Bulgarian market, and Transcard anticipates issuing 30,000 of the new TRANSCARD JCB cards in the first year alone.>