The National Bank of Bulgaria’s Governing Council has amended BORICA AD’s licence to operate the BORICA card-payment system, aligning the authorisation with Bulgaria’s transition to the euro and related operational changes to the payment system. The amendment followed the central bank’s confirmation that the operator had provided all required information and documents and met the conditions under Article 136 of the Law on Payment Services and Payment Systems and the requirements of National Bank of Bulgaria Ordinance No. 16 of 29 March 2018. From 1 January 2026, when the euro becomes legal tender in Bulgaria, the BORICA payment system will process card-related payment transactions in EUR and will be included as an ancillary system in the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET).
National Bank of Bulgaria 2025-12-08
National Bank of Bulgaria amends BORICA payment system operator licence for euro card processing from 1 January 2026 and TARGET inclusion
The National Bank of Bulgaria has amended BORICA AD’s licence to operate the BORICA card-payment system, aligning it with Bulgaria’s transition to the euro. Effective 1 January 2026, the system will process transactions in EUR and be included in the Trans-European Automated Real-time Gross settlement Express Transfer system (TARGET).