Friday, 2 November 2007

Bulgarians shopping online with Visa and Mastercard

Sofia. Each year online trading has been gaining popularity, with services and products on offer getting more and more various and diversified. And while Internet shopping is a general practice in developed countries, it has started getting out on the map in Bulgaria.
Up until recently Bulgarian online vendors have not been in disposal of any alternative to Internet payments, especially when it comes to payments made from abroad. Some of the local players started working with companies like Paypal and Moneybookers, which accept card payments via their websites. Others tried to set up hybrids for electronic disbursements with the mediation of commercial banks. They all failed though, due to the bad image of Bulgaria abroad following the series of bankcard scams and the country’s inclusion in the black list of card payment organisations.
With Bulgaria’s accession to the EU, Visa and Mastercard International finally ‘showed mercy’ and licensed a couple of local banks – UniCredit Bulbank and Raiffeisenbank to operate payments, as the service is utterly unified with these of Visa and Mastercard. Hence all advantages for both vendors and customers, like easy access to payments, enhanced security and a much hastier procedure. Express Daily reads.

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