Card payments are set to make the adoption of the euro in Bulgaria easier for both consumers and merchants, according to Polina Toskova, head of a company providing cashless payment infrastructure. In an interview with Bulgarian National Radio, she highlighted that cashless payments are increasingly popular, both in Bulgaria and worldwide.

Toskova explained that consumer demand for card payments has steadily risen in recent years, particularly following the COVID pandemic. ?More and more merchants are offering card payments, and usage has grown on average by about 10% during this period. Mobile and online payments, in particular, have surged between 30% and 60%,? she said on the radio.The trend reflects a broader global pattern, with the market expanding by 10?15% annually as people increasingly favor cashless options.

In Bulgaria, this growth is most visible in major cities, while smaller towns are still catching up due to fewer merchants equipped with POS devices. Toskova noted that the demographic most actively using cards falls between 30 and 44 years old. She emphasized that card payments are not intimidating and can be advantageous rather than challenging.

Regarding the euro transition, Toskova stressed the benefits of card payments in ensuring a smooth process. Automatic currency conversion eliminates the risk of speculation and provides convenience for businesses and consumers alike. ?The faster card payments are integrated during the transition and afterward, the greater relief for businesses,? she concluded, underlining the role of cashless payments in facilitating the currency change.

Source:BNR interview