Organization for Payments Initiated by Cards (BORICA) was established
in 1993 as a member company of the Bulgarian National Bank (BNB)
Decision of the BNB.
a national card operator serves 28 domestic banks, virtually all banks
that issue credit cards and accept payments with them, authorize
payments made with local debit and international credit and debit cards
(including card products MasterCard, Visa, American Express and JCB),
issued by these banks, customized by company issued credit cards, no
netting of interbank payments initiated by card transactions, and sends
the results to settle the Bulgarian National Bank, liaising with the
international card schemes MasterCard, Visa, American Express, tested certified and ATM and POS terminals and develop operating rules for the operation of the card system.
service organization (Member Service Provider / MSP /), MasterCard
Europe and as such serves 12 local banks in the issuance and
authorization of payment card products MaserCard. It
is the organization processor (Processor Company) Visa International
and as such serves six local banks in issuing and authorization of
payment card products of Visa.
BORICA authorization system operates STEPS of the Belgian card operator BANKSYS SA And has licensed technology and PROTON in PRISMA Proton World for issuing smart cards.
has a staff of 36 highly qualified professionals with extensive
experience and expertise in the field of payment systems, different
hardware and software platforms, including TANDEM, IBM mainframes, as
well as hardware and software cryptographic systems.
activity BORICA than operating and maintaining the card system, and
includes work on strategic projects such as the migration to smart cards
based on standard EMV, smart cards for secure cross-border payments
through the Internet (project Balcard), software development Card
Authorisation, software for ATMs and POS terminals and software and hardware cryptographic protection.