Borica Announces Network Alliance with Discover
Borica AD, owner of Bulgaria’s national payment scheme Bcard and Discover Financial Services, a leading direct bank and payments services company announced that they have signed a strategic agreement that will allow acceptance of Bcard’s Global Cards outside of Bulgaria on the Discover Global Network.
To help provide safer international transactions, Bcard and Discover will collaborate on the integration of Discover’s EMV® contact, contactless and mobile solutions, D-PAS for international usage. Bcard will also provide their member banks with a solution to support the acceptance of Bcard’s Global Cards outside of Bulgaria on the Discover Global Network.
“Discover has become a nimble and flexible partner to organizations around the world by providing them the tools and resources to grow and increase acceptance,” said Joe Hurley, senior vice president and head of global business development at Discover. “This agreement with Bcard complements Discover’s strategy of creating worldwide alliances that provide consumers with more choice when it comes to how and where they pay.”
“The investment in innovation and the development of solutions as extending acceptance outside the territory of Bulgaria for our customers has always been among Bcard’s priorities,” said Mrs. Stoilka Arsova, director of Bulgarian national scheme Bcard. “Bulgaria has accumulated knowledge, experience and technology and achieved world-class standards in terms of financial technology and security and this strategic alliance with Discover reinforces Bcard's continuous efforts to diversify its card-payment services for our banks and promote Bulgaria's card-payment market development. Based on this strategic alliance, Bcard will provide their member banks with an effective competitive domestic platform, range of products and the opportunity to use innovative payment products.”
Discover Global Network has more than 44 million merchant acceptance locations and 2 million ATM and cash access locations across more than 190 countries and territories. Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks. It also includes network relationships with partners around the globe in Brazil, China, India, Japan, the Middle East, Nigeria, Puerto Rico, Serbia, South Korea, Vietnam, Taiwan, Mexico and throughout Europe.
Bcard National Card Scheme of Borica AD has been in operation since 2016 and functions separately and independently from the card payment processor of Borica.
All payment service providers in Bulgaria are members of the Bcard scheme. Bcard, as a Bulgarian national payment card, is accepted at all possible locations (ATM/POS) in 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 country and to change radically the payment methods in Bulgaria.
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