How Bulgaria Transitioned to Euro Payments with BORICA's Coordination and OpenWay's Technology

Bulgaria's Euro Transition: A Seamless Shift to Euro Payments

In a landmark move, Bulgaria successfully transitioned to Euro payments on January 1, 2026, a change orchestrated by BORICA AD, the nation’s payment infrastructure operator, alongside technology partner OpenWay. The transition represents a significant operational change, designed meticulously to maintain continuity and efficiency from the very first moment the Euro was introduced.

The case study released by BORICA details the intricate process that ensured the seamless adoption of the Euro at a national scale. It highlights the necessary infrastructures, governance models, and the coordination efforts within the payment ecosystem, which are imperative for successful financial transitions of this magnitude. Notably, the study emphasizes how these elements worked harmoniously to eliminate any planned downtime during the switch.

As per the findings, within just 48 hours of launching the new payment system, BORICA's infrastructure facilitated over 930,000 transactions including card and ATM interactions valued at nearly 42 million Euros—this feat was accomplished without experiencing any unintended outages. The first Euro withdrawal at an ATM was recorded merely 20 seconds past midnight, marking a thrilling start to Bulgaria's new currency phase.

Miroslav Vichev, CEO of BORICA, remarked, “The Euro transition was not just about changing currency; it involved a comprehensive infrastructure transformation conducted in real-time across the nation. The coordinated efforts of over 35 banks, payment service providers, fintech companies, and governmental agencies were crucial to ensure that transactions functioned smoothly from the very first minute of Euro implementation. This case study reveals the operational model that enabled this success.”

One of the most critical components of the operation was a well-planned three-hour downtime for upgrading national card infrastructures. During this brief window, various systems including issuing, acquiring, point-of-sale (POS) systems, and ATM integrations were simultaneously updated to support transactions in Euro currency.

The role of technology partners like OpenWay was pivotal in facilitating this transition. OpenWay's Way4 payment processing platform underpinned the issuance, acceptance, and transaction processing at BORICA, allowing for a tightly controlled shift to Euro while ensuring accurate transaction tracking, the integrity of reconciliation processes, and operational stability under real-time loads.

Additionally, the case study stresses that during this transition, value-added services such as instant payments through Blink, the digital identity service B-Trust, innovations like SoftPOS, and E-Voucher platforms remained uninterrupted, showcasing the resilience of the overall Bulgarian payment ecosystem.

The transition was further supported by legislative changes, including amendments to Bulgaria's Payment Services and Payment Systems Act (PSPSA), enabling the integration with the Eurosystem infrastructure. As a result, BORICA now serves as a subsystem operating within TARGET, allowing Bulgarian banks to provide instant Euro transfers throughout the SEPA region.

In conclusion, the case study is positioned as a reference model for other markets contemplating large-scale payment infrastructure transformations, especially those preparing for Euro adoption or similar high-stakes transitions. The complete study, titled “Bulgaria's Euro Day One: How BORICA Orchestrated a National Payments Cutover at Scale,” is accessible for further insights into this monumental shift in Bulgaria's payment landscape. For more information regarding the Euro's introduction in Bulgaria and related regulatory frameworks, resources are available through the European Central Bank and the Bulgarian National Bank.