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Pay by Bank (BG)

Pay by Bank in Bulgaria is an emerging payment method leveraging the European Union's Payment Services Directive (PSD2) framework, with 32 payment providers supporting the system, over 900,000 registered accounts for peer-to-peer transfers, and a doubling in instant payment transactions from 2023 to 2024

Method
Pay by Bank (BG)
LPM Market Share
n/a
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
No
Authorization currency
BGN
Authorization
speed
Instant
Recurring
N/A
N/A
Notify when available

Reasons for Popularity

Faster, instant payment capabilities (around 10 seconds per transaction).

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