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Bulgaria's Borica to launch instant payments in Q1 2021

Author Mario Tanev
Bulgaria's Borica to launch instant payments in Q1 2021 Photo: Borica / All rights reserved.

SOFIA (Bulgaria), January 27 (SeeNews) - Bulgarian payment services company Borica intends to launch instant payments in local lev currency in the first quarter of 2021, it said on Monday.

A contractor to develop the system will be selected in the first quarter of 2020, Borica said in a statement.

The project will enable instant payments through point of sale (POS) terminals via QR code, instant payments to online stores, and others, Hristo Kostov, chief architect at Borica, commented.

Instant payments are electronic retail payment solutions that process payments in real time, 24 hours a day, 365 days a year, where the funds are made available immediately for use by the recipient.

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