Evolution and Present Status of Bulgarian Card Market

Bojidar Bojinov ()

Finance from University Library of Munich, Germany

Abstract: Bulgaria is a small South-eastern European country with a population of 8 million inhabitants in economic transition. During the bank crisis (1996-97) about 1/3 of all banks went bankrupt. On 5 July 1997, the Bulgarian government, jointly with IMF, introduced the Currency Board Arrangement, which lead to economic stabilization and growth. During the last four years the Bulgarian card market has expanded rapidly. The article reviews the evolution and the present status of the Bulgarian card market. The first trials to introduce cards in Bulgaria and to establish national card networks were made by three private banks. After 1992, the First Private Bank, the TouristSportBank, and the BalkanBank started their own networks; the first two based them on cards with a magnetic strip, while the BalkanBank used smart cards.

Keywords: payment cards; Bulgaria (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Pages: 8 pages
Date: 2003-10-14
New Economics Papers: this item is included in nep-his, nep-ifn and nep-tra
Note: Type of Document - PDF; prepared on Win2K; pages: 8
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpfi:0310010

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