#Bulgaria #Sofia #BORICA #OpenWay #PAY360

BORICA and OpenWay Honored with PAY360 Award

In a landmark moment for the financial services sector in Bulgaria, BORICA AD and OpenWay have jointly received the prestigious Best Partnership Initiative Award at the PAY360 Awards 2026 held in London. This award highlights their significant contribution to reshaping the nation's payment infrastructure as Bulgaria transitions to the Euro currency, a pivotal shift defining the future of financial transactions in the country.

A Collaborative Effort

The partnership between BORICA and OpenWay dates back to 2018, driven by a shared vision to modernize Bulgaria's card processing infrastructure. This collaboration merges BORICA's deep-rooted expertise in national payment services with OpenWay's advanced digital payment software platform, Way4. Together, they meticulously prepared for Bulgaria's Euro adoption, ensuring a seamless transition without compromising daily payment operations.

Overcoming Challenges

The challenges faced were unprecedented; transitioning to the Euro involved not just technical upgrades, but also intense coordination among over 35 participating entities, including banks, fintech companies, governmental institutions, and technology partners. The collaboration was marked by extensive testing and rehearsal, ensuring the system would be fully operational when the new currency was introduced.

On January 1, 2026, just seconds after the launch of the Euro, the first transaction occurred at an ATM, demonstrating the effectiveness of the groundwork laid by the partnership. Within the first 48 hours post-transition, more than 930,000 transactions were processed, amounting to nearly 42 million euros, all executed without service interruptions.

A Vision for the Future

Miroslav Vichev, CEO of BORICA AD, emphasized the mission behind their efforts: "Our aim went beyond merely achieving technological success. We wanted to guarantee that such a major transformation could occur without disrupting everyday payment experiences. This required years of preparation, disciplined execution, and a foundation of trust within our teams and across the entire ecosystem."

Pavel Gubin, CEO of OpenWay Group, echoed this sentiment by pointing out that the accolade represents not just technological success, but also the enduring relationship built over years of partnership. "What BORICA and OpenWay achieved together goes beyond technology and scale. We have developed a payment environment designed to evolve without compromising service continuity. The adoption of the Euro put this approach to the ultimate test, and the results speak volumes."

Industry Implications

This award not only recognizes the achievements of BORICA and OpenWay but also signals a broader trend within the industry towards collaboration that prioritizes consumer experiences amidst significant transitions. As nations worldwide contemplate similar shifts, the successful partnership serves as a valuable case study in program execution, stakeholder engagement, and operational excellence.

The recognition for their collaborative efforts marks a significant milestone in the transition to Euro payments in Bulgaria, setting a benchmark for future partnerships within the finance sector. With their proven track record, BORICA and OpenWay are poised to influence other payment transformations globally, providing insights and expertise that can benefit various markets.

In conclusion, the successful collaboration of BORICA and OpenWay stands as a testament to the power of strategic partnerships in driving innovation and ensuring seamless transitions in the ever-evolving landscape of global finance. Their efforts highlight the importance of preparation and coordination in achieving success amid change.