New Debit, Credit Cards in Bulgaria

Friday 3 December 2004 11:00 CET | News

All Bulgarians possessing debit or credit cards will have to replace them with new plastic purses in 2005.

Alexander Matrozov, head of the Bulgarian national bank card operator BORIKA, underlined that the measure comes as a result of the requirements of two of the biggest international organizations for card payments MasterCard and Visa. They will implement the EVN standard to all their members starting from 2005. A total of 20 out of all 27 financial crediting institutions in Bulgaria offering that specific service are members of either organization. All banks in Bulgaria will issue smart cards with a special chip since January 2005. That process is to end by 2006. Still, before that process is launched the Bulgarian National Bank (BNB) will have to sign the technical requirements to the ATMs.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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