# Bulgaria — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/BG
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## 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](https://docs.barcoder.ai/docs/payments/BG/mobile-lookup) | Phone proxy | Phone # | 925K accounts | — |

## Sources

- [BORICA - Instant Payments 3 Years](https://www.borica.bg/en/latest/novini/instant-payments-in-bulgaria-3-years-after-the-first-transaction_en)
- [BORICA - BISERA](https://www.borica.bg/en/products-and-services/bisera)
- [BORICA - BISERA6](https://www.borica.bg/en/products-and-services/BISERA6)
- [EPC - Instant Payments Bulgaria](https://www.europeanpaymentscouncil.eu/news-insights/insight/instant-payments-bulgaria)
- [TheBanks.eu - Bulgaria Major Banks](https://thebanks.eu/countries/Bulgaria/major_banks)
- [Lightspark - Bulgaria Instant Payments](https://www.lightspark.com/knowledge/bulgaria-instant-payments)
- [Novinite - Euro Preparation](https://www.novinite.com/view_news.php?id=232120)
- [BORICA - Instant BGN Live](https://www.borica.bg/en/latest/novini/nezabavnite-plashtaniya-v-leva-v-realna-sreda-ot-proletta)
- [Novinite - Eurozone Integration](https://www.novinite.com/articles/229713/Bulgaria+Advances+Eurozone+Integration+with+Instant+Payment+System)
- [Economic.bg - Bank Mergers](https://www.economic.bg/en/a/view/the-trend-is-clear-bank-mergers-in-bulgaria-will-continue)

## Full country report

[BG-bulgaria.md](https://docs.barcoder.ai/docs/payments/BG)