#Bulgaria #Sofia #BORICA #OpenWay #PAY360 Award

BORICA and OpenWay Recognized with PAY360 Award for Euro Payment Transformation in Bulgaria

In a significant achievement for the Bulgarian financial sector, BORICA AD and OpenWay have been awarded the 'Best Partnership Initiative Award' at the PAY360 Awards 2026, held in London. This accolade pays tribute to their collaborative efforts in modernizing the country's payment infrastructure and facilitating a seamless transition to the Euro currency.

A Long-Term Commitment

Since 2018, BORICA and OpenWay have been working hand-in-hand to enhance Bulgaria's card processing infrastructure. Combining BORICA's expertise in national payment services with OpenWay's cutting-edge digital payment technology, the partnership has made impressive strides in creating a robust payment ecosystem tailored for the Euro implementation.

This initiative stands out due to its scale, continuity, and tangible impacts. As the Euro was set to be introduced on January 1, 2026, numerous testing protocols and operational coordination were carried out to ensure uninterrupted service during the currency switch. Over 35 banks, payment service providers, fintech firms, government agencies, and technology partners collaborated closely to prepare for this transition.

Smooth Transition to the Euro

The results of their combined efforts were immediate and impressive. Just 20 seconds after the introduction of the Euro, the first withdrawal was recorded, showcasing the meticulous planning and execution by BORICA and OpenWay. Within the initial 48 hours, more than 930,000 transactions were processed, amounting to nearly 42 million Euros, all without a hitch in service.

Miroslav Vichev, CEO of BORICA AD, emphasized that their shared objective extended beyond a simple technology upgrade; they aimed to ensure that the daily payment activities of the Bulgarian population remained uninterrupted. Years of preparation, disciplined execution, and trust among team members were essential to achieving this ambitious goal.

Similarly, Pavel Gubin, CEO of OpenWay, highlighted the unique aspects of this achievement, stating that it was not merely the technology or scale that mattered, but the outcome of their collaborative efforts. The partnership sought to build a payment environment capable of evolving while maintaining continuity, a strategy that stood the ultimate test during the Euro's introduction.

The Future of Bulgarian Payments

The recognition at the PAY360 Awards marks a crucial milestone for both BORICA and OpenWay as they continue to pave the way for future innovations in payments not just in Bulgaria but potentially in other markets as well. Their collaboration exemplifies how strategic partnerships can lead to meaningful developments in national infrastructure, providing a template for other countries facing similar transitions.

Conclusion

In conclusion, the successful transition to the Euro in Bulgaria stands as a testament to effective collaboration between BORICA and OpenWay. Their award at the PAY360 reinforces the importance of teamwork and foresight in navigating complex financial challenges, ensuring that customers remain at the heart of payment solutions.

As the payment landscape continues to evolve, the groundwork laid by these two companies will undoubtedly shape the future of how transactions are processed in Bulgaria and beyond.