#London #Bulgaria #BORICA #OpenWay #PAY360

Introduction

In a remarkable celebration of innovation and collaboration, BORICA AD and OpenWay have earned the prestigious Best Partnership Initiative Award at the PAY360 Awards 2026 in London. This commendation highlights their combined efforts in transforming Bulgaria's payment landscape and facilitating the country's significant transition to the euro. The successful initiative underscores a partnership that tackled critical challenges without any interruptions, ensuring seamless payment services throughout the switch.

The Significance of the Award

The PAY360 Awards symbolize excellence in payment innovation and recognize key contributions that enhance payment ecosystems. BORICA and OpenWay's win is a testament to their enduring partnership, which has been instrumental in reshaping Bulgaria's national payment infrastructure. Their work showcases not only technological advancement but also teamwork and trust among industry stakeholders, including banks, fintechs, and governmental bodies.

A Collaborative Journey

Since 2018, BORICA and OpenWay have joined forces to modernize Bulgaria’s card processing systems. BORICA has brought its deep knowledge of national payment services, while OpenWay has provided its cutting-edge Way4 digital payment software and technological expertise. This synergy has allowed them to adapt and enhance the existing infrastructure in anticipation of the euro transition.

The initiative’s unique attributes lie in its extensive scale, continuity, and real-world impact. They meticulously navigated the complexities of integrating more than 35 banks, various payment service providers, fintech companies, and government institutions into a cohesive system. A key ingredient in their collaboration was the thorough testing and rehearsal, which prepared them for the euro cutover on January 1, 2026.

A Seamless Transition

The goal of ensuring uninterrupted access to payment services was paramount. Mirroring this sentiment, Miroslav Vichev, the CEO of BORICA AD, reflected, "Our shared objective went beyond a successful technology transition. We wanted to ensure that a transformation of this scale could happen without disrupting the everyday payment experience."

Indeed, when the moment arrived for Bulgaria to adopt the euro, the results were striking. Incredibly, just 20 seconds after the transition, the first euro ATM withdrawal took place. Within the first two days, over 930,000 transactions, amounting to nearly €42 million, were completed flawlessly without any technical issues. This remarkable achievement reinforces the effectiveness of their extensive preparation and collaborative efforts.

Recognition and Reflections

Pavel Gubin, CEO of OpenWay Group, added depth to the discussion about their accomplishment, stating, "What makes this achievement distinctive is not technology or scale alone, but what BORICA and OpenWay were able to accomplish together. We have spent years building a payment environment designed to evolve without compromising continuity. Euro adoption put that approach to the ultimate real-world test, and the results speak for themselves."

This award not only highlights their triumph but sets a benchmark for future collaborations in the payment industry. It emphasizes the importance of planning, organization, and a deep commitment to a shared vision, ensuring that both organizations are leaders in their respective domains.

Conclusion

The recognition of BORICA and OpenWay at the PAY360 Awards serves as an inspiring reminder of the power of partnership in navigating complex transformations. In an increasingly interconnected financial landscape, their story offers valuable lessons on collaboration, preparation, and unwavering focus on user experience. The success of Bulgaria's payment transformation is a building block for future innovations in Europe and beyond.