February 21 (SeeNews) - Bulgarian online payment services provider ePay handled 8.8 million transactions in 2018 and expects the number to increase by 10% this year, as utility bills will continue to make up the bulk, the company's executive director said.
“We conduct transactions worth some 30-50 million levs ($17-29 million/15-25 million euro) monthly, or 300-400 million levs annually," Georgi Marinov told SeeNews on the sidelines of a conference in Sofia organised by the Bulgarian Fintech Association on Tuesday.
"In 2019, we expect transacations worth 400-450 million levs in total," he added.
In 2018, the company's online clients exceeded 350,000, as over 2,500 retailers used its services.
The company's latest investment project is the PayFly invoicing and payment service.
EPay is trying to strike a balance between simplicity, full functionality, security and price, as the services should meet the regulatory requirements and at the same time they should be fun, Marinov said.
Epay was established in 2000. The company booked a profit of 624,000 levs in 2017, down from 730,000 levs a year earlier, according to the most recent data available from the commercial register.
(1 euro=1.95582 Bulgarian levs)