Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Premier of the People's Republic of China and Bulgarian Prime Minister witnessed the signing of a MOU between UnionPay International and Borica, Bulgarian National Payment System


News provided by

UnionPay International

08 Jul, 2018, 03:40 GMT

Share this article

Share toX

Share this article

Share toX

SOFIA, Bulgaria, July 8, 2018 /PRNewswire/ -- On July 6, under the witness of Premier of the People's Republic of China and Bulgarian Prime Minister Borisov, UnionPay International and the Bulgarian National Card Scheme signed a Memorandum of Understanding Agreement (MOU) in the Bulgarian capital Sofia, aimed to initiate a project for enabling POS and ATM terminals in Bulgaria to accept UnionPay chip card and support UnionPay contactless payment service as well.

Since the establishment of the China-CEE Cooperation Mechanism ("16+1 Cooperation") in 2012, cooperation between China and CEE countries in different fields including investment, trade and tourism has witnessed rapid growth. In line with this trend, UnionPay International has cooperated with major institutions in the region to expedite its business expansion. So far, UnionPay is present in 12 of the 16 CEE countries. In Bulgaria, one of the leading countries in the "16+1 Cooperation", UnionPay cards are accepted at some of the local merchant POS terminals, covering shopping malls and specialty stores frequented by tourists.

Bcard National Card Scheme of Borica AD operates since 2016 and functioning separated and independent from the Card Payment Processor. All Payment Service Providers in Bulgaria are Members of the Scheme. Brand Bcard as a Bulgarian national payment card is accepted at all possible locations (ATM/POS) on the territory of Bulgaria. The main mission of the Scheme is migration of cash and paper to digital channels through development of new electronic services in the public and private sectors in Bulgaria. Positioning the wide range of Scheme products through new local business and price models is expected to have a positive impact on the economy of the state and to change radically the payment methods in Bulgaria. The business line of the Scheme follows the following main directions: First, creating equal conditions and unified product and technological rules for interoperability in the country. Second, creating new products and services to provide cheap, adequate and convenient solutions to meet the needs of different sectors of the economy and business. Third, cooperating with other national/international schemes for technology transfer and expanding the acceptance of the brand outside the country.

With the establishment of this cooperation, the two parties' efforts are focused on significant breakthroughs in three aspects: First, UnionPay to achieve comprehensive acceptance in Bulgaria in a feasible period of time. UnionPay cardholders visiting Bulgaria will be able to pay and withdraw cash using UnionPay cards, and when possible in future to activate UnionPay mobile QuickPass service via the "UnionPay" mobile app to make tap-and-go payments. Second, the two parties may jointly issue UnionPay-Bcard co-badge cards locally, expanding the use of Bcard cards from Bulgaria to 169 countries and regions covered by the UnionPay acceptance network. Third, the two parties may further cooperate in promoting innovative payments including online payment, QR code payment and e-wallet products.

UnionPay International management introduced that the company attaches great importance to the CEE region. On the one hand, UnionPay is working on accelerating its acceptance and issuance business development to support economic and trade exchanges and mutual visits between China and CEE countries. On the other hand, taking advantage of its network, products and technology, UnionPay actively participates in the infrastructure construction of payment industry in the region, to promote technical standards cooperation and realize the interconnection and upgrading of payment networks. The cooperation is of great significance: First, UnionPay cards will be comprehensively accepted in Bulgaria, which will guarantee smooth payments between the two countries; Secondly, the issuance of the UnionPay-Bcard co-branded cards will expand the acceptance scope of cards that previously can only be used domestically in Bulgaria to overseas countries, significantly improving the convenience of local residents' daily consumption and international travel; Thirdly, UnionPay will promote innovative payment cooperation under UnionPay standard and contribute the level of electronic payment in Bulgaria.

In recent years, UnionPay has made positive progress in Central and Eastern Europe: In Hungary, UnionPay is accepted at more than half of the local merchants and ATMs. In the Czech Republic, UnionPay is accepted at 50% of ATMs and tens of thousands of merchants. In Serbia, the local bankcard switch network DinaCard plans to adopt the UnionPay standards to upgrade its system; and the UnionPay chip card standard has become the unified technical standard for DinaCard acceptance and issuance business.

Modal title

Also from this source

Al Ansari Exchange and UnionPay International Launch Real-Time Remittance Service to China via MoneyExpress

Al Ansari Exchange, a subsidiary of Al Ansari Financial Services and the largest remittance and foreign exchange company in the UAE, and UnionPay...

Azer Turk Bank has joined international payment network UnionPay

The Azerbaijan state-owned bank Azer Turk Bank has started acceptance and maintenance of UnionPay cards. Holders of UnionPay cards can now perform...

More Releases From This Source

Explore

Banking & Financial Services

Banking & Financial Services

Computer & Electronics

Computer & Electronics

Electronic Commerce

Electronic Commerce

Electronic Commerce

Electronic Commerce

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.