Bulgaria

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When your smile is your wallet - biometric payment in Bulgaria

“Smile, please!” You can now hear this call from the barista as you grab your coffee or…Continue reading

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Wireless payment

Digitalization

Internet usage (of pop.): 74%
Did online shopping (age 15+): 30 – 34%
Paid bills via internet (age 15+): 22 – 25%
Accessed a bank account online (age 15+): 19 – 23%
Paid utility bills using a mobile phone (age 15+): 3 – 4%
Made or received digital payments (age 15+): 79 – 84%

Data overview for Bulgaria

Wireless payment

Digitalization

Internet usage (of pop.): 74%
Did online shopping (age 15+): 30 – 34%
Paid bills via internet (age 15+): 22 – 25%
Accessed a bank account online (age 15+): 19 – 23%
Paid utility bills using a mobile phone (age 15+): 3 – 4%
Made or received digital payments (age 15+): 79 – 84%

Business chart

Macro data

Population 2020: 6.95M
GDP Total 2020: €62.9B
GDP per capita 2020 (PPP): €21,300
GDP forecast 2021: 3%
Trade Flows (% of GDP): 105%

Cash increase

Banking data

Total bank assets 2020: €63.3B
Total bank assets 2020/GDP: 105%
Account ownership (age 15+): 87 – 93%
Debit card ownership (age 15+): 78 – 81%

Coin in hand

Economic data

Unemployment: 5%
Currency: BGN
Remittances (% of GDP): 1.4%
Private Consumption (yoy): 4%

Data provided by Raiffeisen Research, Sources

Articles about fintech in Bulgaria

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Helping early-stage Eastern European startups grow through a diversified portfolio

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Speaking from experience: 6 tips for a successful partnership between a startup and an established company

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Bulgaria compared to other CEE countries

Bulgaria

Internet usage (of pop.): 74%
Did online shopping (age 15+): 30 – 34%
Paid bills via internet (age 15+): 22 – 25%
Accessed a bank account online (age 15+): 19 – 23%

Turkey

Internet usage (of pop.): 78%
Did online shopping (age 15+): 34 – 36%
Paid bills via internet (age 15+): 46 – 47%
Accessed a bank account online (age 15+): 39 – 41%

Romania

Internet usage (of pop.): 85%
Did online shopping (age 15+): 24 – 28%
Paid bills via internet (age 15+): 20 – 24%
Accessed a bank account online (age 15+): 21 – 24%

Serbia

Internet usage (of pop.): 79%
Did online shopping (age 15+): 33 – 35%
Paid bills via internet (age 15+): 25 – 27%
Accessed a bank account online (age 15+): 25 – 27%

Data provided by Raiffeisen Research, Sources

See all CEE countries