Bulgaria’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

The global economic crisis in 2009–2010 had a severe effect on the Bulgarian economy, with gross domestic product (GDP) contracting by 5.5% in 2009. The Bulgarian government and World Bank entered into a memorandum of understanding (MoU) in January 2012 in response. This represented an important step taken by the country’s government to draw on the World Bank’s expertise in developing and implementing strategies and programs to revive the country’s economy. GDP grew by 0.9% in 2013, and is anticipated to rise to 3.0% in 2018, which will be beneficial for Bulgaria’s cards and payments industry over the forecast period (2014–2018).

Bulgarian payment cards (including debit and credit cards) registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.08%, and increasing from 7.7 million cards in circulation in 2009 to 8.5 million in 2013. In terms of transaction value, payment cards valued BGN15.1 billion (US$10.7 billion) in 2013, after registering a review-period CAGR of 7.33%. Rising consumer awareness for electronic payments and the adoption of advanced technologies such as contactless cards and EMV technology contributed towards the growth in payment cards during the review period, in terms of transaction value, volume and the number of cards in circulation.

In 2013, the average transaction value (ATV) in Bulgaria was US$85.5, which ranked fifteenth in the overall European region. Greece recorded the highest ATV, with US$227.6, while Estonia recorded the lowest with US$37.3. Bulgaria ranked twenty-first in terms of card penetration, with 1.2 cards per inhabitant, while Luxembourg recorded the highest rate with 4.4 and Romania recorded the lowest with 0.6. Bulgaria ranked the lowest among other European countries in terms of frequency of use, with 18.7 transactions per card, while Finland recorded the highest frequency with 172.8.

Prepaid cards recorded a CAGR of 24.99% during the review period, increasing from 461,513 cards in 2009 to 1.1 million in 2013. These cards are more beneficial to the country’s unbanked population, as they do not require a bank account to use. Central Cooperative issues virtual prepaid cards that do not require an individual to have a physical card. This card is created online, and can be used for the payment of goods and services. This removes the requirement for customers to visit a bank to collect the card. The bank also issues Prepaid Gift Cards to customers, which can be personalized and can be used to give gifts on different occasions. With the increasing number of prepaid cards being distributed in the country, this segment is anticipated to undergo positive growth, with 2.1 million cards estimated to be distributed by the end of 2018.

Card fraud is increasing at a CAGR of 0.31% in Bulgaria, with various technological innovations to combat and prevent it. Banks in association with MasterCard and Visa now offer contactless credit cards, called PayPass and PayWave respectively. These cards provide more convenience at the time of the payment, as they require tapping the card in front of the card reader instead of entering the PIN. DSK Bank, Fibank and UniCredit Bulbank offer contactless cards.

Scope

• This report provides a comprehensive analysis of Bulgaria’s cards and payments industry.

• It provides current values for Bulgaria’s cards and payments industry for 2013, and forecast figures for 2018.

• It details the different economic, infrastructural and business drivers affecting Bulgaria’s cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details the marketing strategies used by various banks and other institutions.

• It profiles major banks in Bulgaria’s cards and payments industry.

Key Highlights

• Bulgarian payment cards (including debit and credit cards) registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.08%, and increasing from 7.7 million cards in circulation in 2009 to 8.5 million in 2013. In terms of transaction value, payment cards valued BGN15.1 billion (US$10.7 billion) in 2013, after registering a review-period CAGR of 7.33%. Rising consumer awareness for electronic payments and the adoption of advanced technologies such as contactless cards and EMV technology contributed towards the growth in payment cards during the review period, in terms of transaction value, volume and the number of cards in circulation.

• In 2013, the average transaction value (ATV) in Bulgaria was US$85.5, which ranked fifteenth in the overall European region. Greece recorded the highest ATV, with US$227.6, while Estonia recorded the lowest with US$37.3. Bulgaria ranked twenty-first in terms of card penetration, with 1.2 cards per inhabitant, while Luxembourg recorded the highest rate with 4.4 and Romania recorded the lowest with 0.6. Bulgaria ranked the lowest among other European countries in terms of frequency of use, with 18.7 transactions per card, while Finland recorded the highest frequency with 172.8.

• Prepaid cards recorded a CAGR of 24.99% during the review period, increasing from 461,513 cards in 2009 to 1.1 million in 2013. These cards are more beneficial to the country’s unbanked population, as they do not require a bank account to use.

• Card fraud is increasing at a CAGR of 0.31% in Bulgaria, with various technological innovations to combat and prevent it. Banks in association with MasterCard and Visa now offer contactless credit cards, called PayPass and PayWave respectively. These cards provide more convenience at the time of the payment, as they require tapping the card in front of the card reader instead of entering the PIN. DSK Bank, Fibank and UniCredit Bulbank offer contactless cards.

Reasons to buy

• Make strategic business decisions, using top-level historic and forecast market data, related to Bulgaria’s cards and payments industry and each market within it.

• Understand the key market trends and growth opportunities within Bulgaria’s cards and payments industry.

• Assess the competitive dynamics in Bulgaria’s cards and payments industry.

• Gain insights into marketing strategies used for selling various card types in Bulgaria.

• Gain insights into key regulations governing of Bulgaria’s cards and payments industry.

Companies mentioned

United Bulgarian Bank

DSK Bank

UniCredit Bulbank

First Investment Bank

Raiffeisenbank

Borica

MasterCard

Visa

Diners Club

American Express

Table of Contents

1 Key Facts and Top Events

2 Executive Summary

3 Payment Instruments

3.1 Current Payments Environment

3.2 Alternative Payment Instruments

3.2.1 Mobile payments

3.2.2 PayPal

3.2.3 ClickandBuy

3.2.4 Click2Pay

3.2.5 PaySafeCard

3.2.6 Skrill

4 Market Attractiveness and Future Prospects of Cards and Payments

5 Analysis of Cards and Payments Industry Drivers

5.1 Demographic Drivers

5.2 Economic Drivers

5.3 Infrastructure Drivers

5.4 Business Drivers

6 Emerging Consumer Attitudes and Trends

6.1 Market Segmentation and Targeting

6.1.1 Consumer cards

6.1.2 Corporate cards

6.2 Travel Spending

6.2.1 Outbound trips volume and spending

6.2.2 Inbound trips volume and spending

7 Payment Cards

7.1 Payment Cards Instrument Analysis

7.1.1 Number of cards in circulation by card type

7.1.2 Transaction volume by card type

7.1.3 Transaction value by card type

7.1.4 Personal vs commercial cards

8 Debit Cards

8.1 Debit Cards Market Analysis

8.1.1 Number of debit cards in circulation

8.1.2 Debit cards transaction volume by channel

8.1.3 Debit cards transaction value by channel

8.1.4 Number of debit cards in circulation by scheme

8.1.5 Debit cards transaction value by scheme

8.1.6 Debit cards issuers market shares

8.1.7 Debit cards comparison

9 Credit Cards

9.1 Credit Cards Market Analysis

9.1.1 Number of credit cards in circulation

9.1.2 Credit cards transaction volume by channel

9.1.3 Credit cards transaction value by channel

9.1.4 Number of credit cards in circulation by scheme

9.1.5 Credit cards transaction value by scheme

9.1.6 Credit cards issuers market share

9.1.7 Credit cards comparison

10 Commercial Cards

10.1 Commercial Cards Market Analysis

10.1.1 Number of commercial cards in circulation

10.1.2 Commercial cards transaction value

10.1.3 Commercial cards comparison

11 Regulations in the Cards and Payments Industry

11.1 Regulatory Framework

11.2 Anti-Money Laundering

11.3 Foreign Direct Investment Regulations

12 Card Fraud Statistics

12.1 Card Fraud Analysis

13 Card Issuers

13.1 United Bulgarian Bank

13.2 DSK Bank

13.3 UniCredit Bulbank

13.4 First Investment Bank

13.5 Raiffeisenbank

14 Card Schemes

14.1 Visa

14.2 MasterCard

14.3 Borica

14.4 American Express

14.5 Diners Club

15 Prepaid Cards

15.1 Prepaid Cards Market Analysis

15.1.1 Number of prepaid cards in circulation

15.1.2 Prepaid cards transaction value

15.1.3 Open-loop prepaid cards

15.1.4 Closed-loop prepaid cards

15.1.5 Prepaid cards comparison

16 Appendix

16.1 Tables

16.2 Methodology

16.3 Contact GlobalData

16.4 About GlobalData

16.5 GlobalData’s Services

16.6 Definitions

16.7 Disclaimer

List of Tables

Table 1: Bulgaria – Key Facts, 2013

Table 2: Regional Benchmarking of Bulgarian Payment Cards Instrument, 2013

Table 3: Specialized Cards for High-Income Customers

Table 4: Specialized Cards for Young Population and Students

Table 5: Specialized Cards for Shoppers and Vehicle Owners

Table 6: Specialized Cards for Female Population

Table 7: Specialized Cards for Business Managers and Entrepreneurs

Table 8: Regional Benchmarking of Bulgarian Debit Cards, 2013

Table 9: Bulgaria – Visa Domestic Interchange Reimbursement Fees

Table 10: Bulgaria – MasterCard Consumer Card Domestic Interchange Reimbursement Fees

Table 11: Bulgaria – MasterCard Commercial Card Interchange Fees

Table 12: Bulgaria – Debit Cards Comparison and Key Features

Table 13: Regional Benchmarking of Bulgarian Credit Cards, 2013

Table 14: Bulgaria – Visa Domestic Interchange Reimbursement Fees

Table 15: Bulgaria – MasterCard Consumer Card Interchange Fees, 2014

Table 16: Bulgaria – MasterCard Commercial Card Interchange Fees

Table 17: Bulgaria – Gold Credit Cards Comparison and Key Features

Table 18: Bulgaria – Premium Credit Cards Comparison and Key Features

Table 19: Bulgaria – Commercial Cards Comparison and Key Features

Table 20: Bulgaria – Market Entry Strategies of Foreign Banks

Table 21: Regional Benchmarking of Bulgaria Prepaid Cards, 2013

Table 22: Bulgaria – Prepaid Cards Comparison and Key Features

Table 23: Bulgaria – Payment Instruments Transaction Value (BGN Billion), 2009–2013

Table 24: Bulgaria – Payment Instruments Transaction Value (US$ Million), 2009–2013

Table 25: Bulgaria – Payment Instruments Transaction Volume (Million), 2009–2013

Table 26: Bulgaria – Number of Cards in Circulation by Card Types (Thousand), 2009–2018

Table 27: Bulgaria – Transaction Volume by Card Type (Million), 2009–2018

Table 28: Bulgaria – Transaction Value by Card Type (BGN Billion), 2009–2018

Table 29: Bulgaria – Transaction Value by Card Type (US$ Million), 2009–2018

Table 30: Bulgaria – Personal and Commercial Cards Transaction Value (BGN Million), 2009–2018

Table 31: Bulgaria – Personal and Commercial Cards Transaction Value (US$ Billion), 2009–2018

Table 32: Bulgaria – Number of Debit Cards in Circulation (Million), 2009–2018

Table 33: Bulgaria – Debit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 34: Bulgaria – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 35: Bulgaria – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 36: Bulgaria – Number of Debit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 37: Bulgaria – Debit Cards Transaction Value By Scheme (BGN Million), 2009–2013

Table 38: Bulgaria – Debit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 39: Bulgaria – Debit Cards Transaction Value by Issuer (BGN Million), 2009–2013

Table 40: Bulgaria – Debit Cards Transaction Value by Issuer (US$ Million), 2009–2013

Table 41: Bulgaria – Number of Credit Cards in Circulation (Thousand), 2009–2018

Table 42: Bulgaria – Credit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 43: Bulgaria – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 44: Bulgaria – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 45: Bulgaria – Number of Credit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 46: Bulgaria – Credit Cards Transaction Value By Scheme (BGN Million), 2009–2013

Table 47: Bulgaria – Credit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 48: Bulgaria – Credit Cards Transaction Value By Issuer (BGN Million), 2009–2013

Table 49: Bulgaria – Credit Cards Transaction Value By Issuer (US$ Million), 2009–2013

Table 50: Bulgaria – Credit Cards Balance Outstanding By Issuer (BGN Million), 2009–2013

Table 51: Bulgaria – Credit Cards Balance Outstanding By Issuer (US$ Million), 2009–2013

Table 52: Bulgaria – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Table 53: Bulgaria – Commercial Cards Transaction Value (BGN Million), 2009–2018

Table 54: Bulgaria – Commercial Cards Transaction Value (US$ Million), 2009–2018

Table 55: Bulgaria – Card Fraud (BGN Thousand), 2009–2013

Table 56: Bulgaria – Card Fraud (US$ Thousand), 2009–2013

Table 57: Bulgaria – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Table 58: Bulgaria – Prepaid Cards Transaction Value (BGN Million), 2009–2018

Table 59: Bulgaria – Prepaid Cards Transaction Value (US$ Million), 2009–2018

Table 60: Bulgaria – Open-Loop Prepaid Cards, 2009–2018

Table 61: Bulgaria – Closed-Loop Prepaid Cards, 2009–2018

Table 62: Key Definitions

List of Figures

Figure 1: Bulgaria – Payment Instruments Shares by Transaction Value (%), 2009 and 2013

Figure 2: Bulgaria – Payment Instruments Shares by Transaction Volume (%), 2009 and 2013

Figure 3: Bulgaria – Payment Cards Transaction Value and Growth, 2009–2018

Figure 4: Bulgaria – Total Population (Million) and Proportion Aged Over 65 Years, 2009–2018

Figure 5: Bulgaria – Nominal GDP (US$) and Real GDP Growth Rate (%), 2009–2018

Figure 6: Bulgaria – Volume of ATMs and Penetration, 2009–2018

Figure 7: Bulgaria – Volume of POS Terminals (Thousand) and Penetration, 2009–2018

Figure 8: Bulgaria – Retail Sales Value (BGN Billion), 2009–2018

Figure 9: Bulgaria – Cards and Payments Industry Segmentation by Card Type

Figure 10: Bulgaria – Outbound Trips Volume (Thousand) and Spending (BGN Billion), 2009–2018

Figure 11: Bulgaria – Inbound Trips Volume (Million) and Spending (BGN Billion), 2009–2018

Figure 12: Bulgaria – Card Shares In Terms of Numbers in Circulation (%), 2009–2018

Figure 13: Bulgaria – Card Shares in Terms of Transaction Volume (%), 2009–2018

Figure 14: Bulgaria – Card Shares in Terms of Transaction Value (%), 2009–2018

Figure 15: Bulgaria – Personal and Commercial Cards, Transaction Value (BGN Million), 2009–2018

Figure 16: Bulgaria – Number of Debit Cards in Circulation (Million), 2009–2018

Figure 17: Bulgaria – Debit Cards Transaction Volume by Channel (Million), 2009–2018

Figure 18: Bulgaria – Debit Cards Transaction Value by Channel (BGN Billion), 2009–2018

Figure 19: Bulgaria – Debit Card Scheme Shares in Terms of Number of Cards in Circulation (%), 2013

Figure 20: Bulgaria – Debit Cards Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 21: Bulgaria – Debit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2013

Figure 22: Bulgaria – Number of Credit Cards in Circulation (Thousand), 2009–2018

Figure 23: Bulgaria – Credit Cards Transaction Volume by Channel (Million), 2009–2018

Figure 24: Bulgaria – Credit Cards Transaction Value by Channel (BGN Million), 2009–2018

Figure 25: Bulgaria – Credit Cards Scheme Market Share in Terms of Number of Cards in Circulation (%), 2013

Figure 26: Bulgaria – Credit Cards Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 27: Bulgaria – Credit Cards Issuers’ Market Share in Terms of Transaction Value (%), 2013

Figure 28: Bulgaria – Credit Cards Issuers’ Market Share in Terms of Outstanding Balance (%), 2013

Figure 29: Bulgaria – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Figure 30: Bulgaria – Commercial Cards Transaction Value (BGN Million), 2009–2018

Figure 31: Bulgaria – Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2009 and 2013

Figure 32: Bulgaria – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Figure 33: Bulgaria – Prepaid Cards Transaction Value ( BGN Million), 2009–2018

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Bulgaria’s Cards and Payments Industry: Emerging Opportunities, Trends, Size, Drivers, Strategies, Products and Competitive Landscape

The global economic crisis in 2009–2010 had a severe effect on the Bulgarian economy, with gross domestic product (GDP) contracting by 5.5% in 2009. The Bulgarian government and World Bank entered into a memorandum of understanding (MoU) in January 2012 in response. This represented an important step taken by the country’s government to draw on the World Bank’s expertise in developing and implementing strategies and programs to revive the country’s economy. GDP grew by 0.9% in 2013, and growth is anticipated to rise to 3.0% in 2018, which will benefit Bulgaria’s cards and payments industry over the forecast period (2014–2018).

Bulgarian payment cards – including debit and credit cards – registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.08%, and increasing from 7.7 million cards in circulation in 2009 to 8.5 million in 2013. In terms of transaction value, payment cards valued BGN15.1 billion (US$10.7 billion) in 2013, after registering a review-period CAGR of 7.33%. Rising consumer awareness of electronic payments and the adoption of advanced technology such as contactless cards and EMV contributed to payment card growth during the review period, in terms of transaction value, volume and the number of cards in circulation.

In 2013, the average transaction value (ATV) in Bulgaria was US$85.5, ranking 15th in Europe overall. Greece recorded the highest ATV with US$227.6, while Estonia recorded the lowest with US$37.3. Bulgaria ranked 21st in terms of card penetration, with 1.2 cards per inhabitant, while Luxembourg recorded the highest rate with 4.4 and Romania recorded the lowest with 0.6. Bulgaria ranked the lowest among European countries in terms of frequency of use, with 18.7 transactions per card, while Finland recorded the highest frequency with 172.8.

Prepaid cards recorded a CAGR of 24.99% during the review period, increasing from 461,513 cards in 2009 to 1.1 million in 2013. These cards are beneficial to the country’s unbanked population, as they do not require a bank account to use. Central Cooperative issues virtual prepaid cards that do not require an individual to have a physical card. This card is created online, and can be used to pay for goods and services. This removes the requirement for customers to visit a bank to collect the card. The bank also issues prepaid gift cards, which can be personalized and used for different occasions. With the rising number of prepaid cards distributed in the country, this segment is anticipated to record positive growth, with 2.1 million cards expected to be distributed by the end of 2018.

Card fraud is increasing at a CAGR of 0.31% in Bulgaria, with various technological innovations being developed to combat and prevent it.

Banks now offer contactless PayPass and PayWave credit cards in association with MasterCard and Visa respectively. These cards provide more convenience at the time of the payment, with users tapping them in front of the card reader instead of entering a PIN. DSK Bank, Fibank and UniCredit Bulbank offer contactless cards.

Scope

• This report provides a comprehensive analysis of Bulgaria’s cards and payments industry.

• It provides current values for Bulgaria’s cards and payments industry for 2013, and forecast figures for 2018.

• It details the different economic, infrastructural and business drivers affecting Bulgaria’s cards and payments industry.

• It outlines the current regulatory framework in the industry.

• It details the marketing strategies used by various banks and other institutions.

• It profiles major banks in Bulgaria’s cards and payments industry.

Key Highlights

• Bulgarian payment cards (including debit and credit cards) registered positive growth during the review period (2009–2013), recording a compound annual growth rate (CAGR) of 2.08%, and increasing from 7.7 million cards in circulation in 2009 to 8.5 million in 2013. In terms of transaction value, payment cards valued BGN15.1 billion (US$10.7 billion) in 2013, after registering a review-period CAGR of 7.33%. Rising consumer awareness of electronic payments and the adoption of advanced technology such as contactless cards and EMV contributed to payment cards' growth during the review period, in terms of transaction value, volume and the number of cards in circulation.

• In 2013, the average transaction value (ATV) in Bulgaria was US$85.5, ranking 15th in Europe overall. Greece recorded the highest ATV, with US$227.6, while Estonia recorded the lowest with US$37.3. Bulgaria ranked 21st in terms of card penetration, with 1.2 cards per inhabitant, while Luxembourg recorded the highest rate with 4.4 and Romania recorded the lowest with 0.6. Bulgaria ranked the lowest among other European countries in terms of frequency of use, with 18.7 transactions per card, while Finland recorded the highest frequency with 172.8.

• Prepaid cards recorded a CAGR of 24.99% during the review period, increasing from 461,513 cards in 2009 to 1.1 million in 2013. These cards are particularly beneficial to the country’s unbanked population, as they do not require a bank account to use.

• Card fraud is increasing at a CAGR of 0.31% in Bulgaria, with various technological innovations to combat and prevent it. Banks now offer PayPass and PayWave contactless credit cards in association with MasterCard and Visa respectively. These cards provide more convenience at the time of the payment, as users tap the card in front of the card reader instead of entering a PIN. DSK Bank, Fibank and UniCredit Bulbank offer contactless cards.

Reasons to buy

• Make strategic business decisions using top-level historic and forecast market data related to Bulgaria’s cards and payments industry, and each market within it.

• Understand key market trends and growth opportunities in Bulgaria’s cards and payments industry.

• Assess the competitive dynamics in Bulgaria’s cards and payments industry.

• Gain insights into strategies used to market various card types in Bulgaria.

• Gain insights into the key regulations governing Bulgaria’s cards and payments industry.

Companies mentioned

United Bulgarian Bank

DSK Bank

UniCredit Bulbank

First Investment Bank

Raiffeisenbank

Borica

MasterCard

Visa

Diners Club

American Express

Table of Contents

1 Key Facts and Top Events

2 Executive Summary

3 Payment Instruments

3.1 Current Payments Environment

3.2 Alternative Payment Instruments

3.2.1 Mobile payments

3.2.2 PayPal

3.2.3 ClickandBuy

3.2.4 Click2Pay

3.2.5 PaySafeCard

3.2.6 Skrill

4 Market Attractiveness and Future Prospects of Cards and Payments

5 Analysis of Cards and Payments Industry Drivers

5.1 Demographic Drivers

5.2 Economic Drivers

5.3 Infrastructure Drivers

5.4 Business Drivers

6 Emerging Consumer Attitudes and Trends

6.1 Market Segmentation and Targeting

6.1.1 Consumer cards

6.1.2 Corporate cards

6.2 Travel Spending

6.2.1 Outbound trips volume and spending

6.2.2 Inbound trips volume and spending

7 Payment Cards

7.1 Payment Cards Instrument Analysis

7.1.1 Number of cards in circulation by card type

7.1.2 Transaction volume by card type

7.1.3 Transaction value by card type

7.1.4 Personal vs commercial cards

8 Debit Cards

8.1 Debit Cards Market Analysis

8.1.1 Number of debit cards in circulation

8.1.2 Debit cards transaction volume by channel

8.1.3 Debit cards transaction value by channel

8.1.4 Number of debit cards in circulation by scheme

8.1.5 Debit cards transaction value by scheme

8.1.6 Debit cards issuers market shares

8.1.7 Debit cards comparison

9 Credit Cards

9.1 Credit Cards Market Analysis

9.1.1 Number of credit cards in circulation

9.1.2 Credit cards transaction volume by channel

9.1.3 Credit cards transaction value by channel

9.1.4 Number of credit cards in circulation by scheme

9.1.5 Credit cards transaction value by scheme

9.1.6 Credit cards issuers market share

9.1.7 Credit cards comparison

10 Commercial Cards

10.1 Commercial Cards Market Analysis

10.1.1 Number of commercial cards in circulation

10.1.2 Commercial cards transaction value

10.1.3 Commercial cards comparison

11 Regulations in the Cards and Payments Industry

11.1 Regulatory Framework

11.2 Anti-Money Laundering

11.3 Foreign Direct Investment Regulations

12 Card Fraud Statistics

12.1 Card Fraud Analysis

13 Card Issuers

13.1 United Bulgarian Bank

13.2 DSK Bank

13.3 UniCredit Bulbank

13.4 First Investment Bank

13.5 Raiffeisenbank

14 Card Schemes

14.1 Visa

14.2 MasterCard

14.3 Borica

14.4 American Express

14.5 Diners Club

15 Prepaid Cards

15.1 Prepaid Cards Market Analysis

15.1.1 Number of prepaid cards in circulation

15.1.2 Prepaid cards transaction value

15.1.3 Open-loop prepaid cards

15.1.4 Closed-loop prepaid cards

15.1.5 Prepaid cards comparison

16 Appendix

16.1 Tables

16.2 Methodology

16.3 Contact GlobalData

16.4 About GlobalData

16.5 GlobalData’s Services

16.6 Definitions

16.7 Disclaimer

List of Tables

Table 1: Bulgaria – Key Facts, 2013

Table 2: Regional Benchmarking of Bulgarian Payment Cards Instrument, 2013

Table 3: Specialized Cards for High-Income Customers

Table 4: Specialized Cards for Young Population and Students

Table 5: Specialized Cards for Shoppers and Vehicle Owners

Table 6: Specialized Cards for Female Population

Table 7: Specialized Cards for Business Managers and Entrepreneurs

Table 8: Regional Benchmarking of Bulgarian Debit Cards, 2013

Table 9: Bulgaria – Visa Domestic Interchange Reimbursement Fees

Table 10: Bulgaria – MasterCard Consumer Card Domestic Interchange Reimbursement Fees

Table 11: Bulgaria – MasterCard Commercial Card Interchange Fees

Table 12: Bulgaria – Debit Cards Comparison and Key Features

Table 13: Regional Benchmarking of Bulgarian Credit Cards, 2013

Table 14: Bulgaria – Visa Domestic Interchange Reimbursement Fees

Table 15: Bulgaria – MasterCard Consumer Card Interchange Fees, 2014

Table 16: Bulgaria – MasterCard Commercial Card Interchange Fees

Table 17: Bulgaria – Gold Credit Cards Comparison and Key Features

Table 18: Bulgaria – Premium Credit Cards Comparison and Key Features

Table 19: Bulgaria – Commercial Cards Comparison and Key Features

Table 20: Bulgaria – Market Entry Strategies of Foreign Banks

Table 21: Regional Benchmarking of Bulgaria Prepaid Cards, 2013

Table 22: Bulgaria – Prepaid Cards Comparison and Key Features

Table 23: Bulgaria – Payment Instruments Transaction Value (BGN Billion), 2009–2013

Table 24: Bulgaria – Payment Instruments Transaction Value (US$ Million), 2009–2013

Table 25: Bulgaria – Payment Instruments Transaction Volume (Million), 2009–2013

Table 26: Bulgaria – Number of Cards in Circulation by Card Types (Thousand), 2009–2018

Table 27: Bulgaria – Transaction Volume by Card Type (Million), 2009–2018

Table 28: Bulgaria – Transaction Value by Card Type (BGN Billion), 2009–2018

Table 29: Bulgaria – Transaction Value by Card Type (US$ Million), 2009–2018

Table 30: Bulgaria – Personal and Commercial Cards Transaction Value (BGN Million), 2009–2018

Table 31: Bulgaria – Personal and Commercial Cards Transaction Value (US$ Billion), 2009–2018

Table 32: Bulgaria – Number of Debit Cards in Circulation (Million), 2009–2018

Table 33: Bulgaria – Debit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 34: Bulgaria – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 35: Bulgaria – Debit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 36: Bulgaria – Number of Debit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 37: Bulgaria – Debit Cards Transaction Value By Scheme (BGN Million), 2009–2013

Table 38: Bulgaria – Debit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 39: Bulgaria – Debit Cards Transaction Value by Issuer (BGN Million), 2009–2013

Table 40: Bulgaria – Debit Cards Transaction Value by Issuer (US$ Million), 2009–2013

Table 41: Bulgaria – Number of Credit Cards in Circulation (Thousand), 2009–2018

Table 42: Bulgaria – Credit Cards Transaction Volume and Frequency by Channel, 2009–2018

Table 43: Bulgaria – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 44: Bulgaria – Credit Cards Total and Average Transaction Value by Channel, 2009–2018

Table 45: Bulgaria – Number of Credit Cards in Circulation By Scheme (Thousand), 2009–2013

Table 46: Bulgaria – Credit Cards Transaction Value By Scheme (BGN Million), 2009–2013

Table 47: Bulgaria – Credit Cards Transaction Value By Scheme (US$ Million), 2009–2013

Table 48: Bulgaria – Credit Cards Transaction Value By Issuer (BGN Million), 2009–2013

Table 49: Bulgaria – Credit Cards Transaction Value By Issuer (US$ Million), 2009–2013

Table 50: Bulgaria – Credit Cards Balance Outstanding By Issuer (BGN Million), 2009–2013

Table 51: Bulgaria – Credit Cards Balance Outstanding By Issuer (US$ Million), 2009–2013

Table 52: Bulgaria – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Table 53: Bulgaria – Commercial Cards Transaction Value (BGN Million), 2009–2018

Table 54: Bulgaria – Commercial Cards Transaction Value (US$ Million), 2009–2018

Table 55: Bulgaria – Card Fraud (BGN Thousand), 2009–2013

Table 56: Bulgaria – Card Fraud (US$ Thousand), 2009–2013

Table 57: Bulgaria – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Table 58: Bulgaria – Prepaid Cards Transaction Value (BGN Million), 2009–2018

Table 59: Bulgaria – Prepaid Cards Transaction Value (US$ Million), 2009–2018

Table 60: Bulgaria – Open-Loop Prepaid Cards, 2009–2018

Table 61: Bulgaria – Closed-Loop Prepaid Cards, 2009–2018

Table 62: Key Definitions

List of Figures

Figure 1: Bulgaria – Payment Instruments Shares by Transaction Value (%), 2009 and 2013

Figure 2: Bulgaria – Payment Instruments Shares by Transaction Volume (%), 2009 and 2013

Figure 3: Bulgaria – Payment Cards Transaction Value and Growth, 2009–2018

Figure 4: Bulgaria – Total Population (Million) and Proportion Aged Over 65 Years, 2009–2018

Figure 5: Bulgaria – Nominal GDP (US$) and Real GDP Growth Rate (%), 2009–2018

Figure 6: Bulgaria – Volume of ATMs and Penetration, 2009–2018

Figure 7: Bulgaria – Volume of POS Terminals (Thousand) and Penetration, 2009–2018

Figure 8: Bulgaria – Retail Sales Value (BGN Billion), 2009–2018

Figure 9: Bulgaria – Cards and Payments Industry Segmentation by Card Type

Figure 10: Bulgaria – Outbound Trips Volume (Thousand) and Spending (BGN Billion), 2009–2018

Figure 11: Bulgaria – Inbound Trips Volume (Million) and Spending (BGN Billion), 2009–2018

Figure 12: Bulgaria – Card Shares In Terms of Numbers in Circulation (%), 2009–2018

Figure 13: Bulgaria – Card Shares in Terms of Transaction Volume (%), 2009–2018

Figure 14: Bulgaria – Card Shares in Terms of Transaction Value (%), 2009–2018

Figure 15: Bulgaria – Personal and Commercial Cards, Transaction Value (BGN Million), 2009–2018

Figure 16: Bulgaria – Number of Debit Cards in Circulation (Million), 2009–2018

Figure 17: Bulgaria – Debit Cards Transaction Volume by Channel (Million), 2009–2018

Figure 18: Bulgaria – Debit Cards Transaction Value by Channel (BGN Billion), 2009–2018

Figure 19: Bulgaria – Debit Card Scheme Shares in Terms of Number of Cards in Circulation (%), 2013

Figure 20: Bulgaria – Debit Cards Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 21: Bulgaria – Debit Cards Issuers’ Market Shares in Terms of Transaction Value (%), 2013

Figure 22: Bulgaria – Number of Credit Cards in Circulation (Thousand), 2009–2018

Figure 23: Bulgaria – Credit Cards Transaction Volume by Channel (Million), 2009–2018

Figure 24: Bulgaria – Credit Cards Transaction Value by Channel (BGN Million), 2009–2018

Figure 25: Bulgaria – Credit Cards Scheme Market Share in Terms of Number of Cards in Circulation (%), 2013

Figure 26: Bulgaria – Credit Cards Scheme Market Share in Terms of Transaction Value (%), 2013

Figure 27: Bulgaria – Credit Cards Issuers’ Market Share in Terms of Transaction Value (%), 2013

Figure 28: Bulgaria – Credit Cards Issuers’ Market Share in Terms of Outstanding Balance (%), 2013

Figure 29: Bulgaria – Number of Commercial Cards in Circulation (Thousand), 2009–2018

Figure 30: Bulgaria – Commercial Cards Transaction Value (BGN Million), 2009–2018

Figure 31: Bulgaria – Shares of Various Types of Card Fraud in Terms of Transaction Value (%), 2009 and 2013

Figure 32: Bulgaria – Number of Prepaid Cards in Circulation (Thousand), 2009–2018

Figure 33: Bulgaria – Prepaid Cards Transaction Value ( BGN Million), 2009–2018

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