CSoft is the First Software Company in Bulgaria to Introduce Instant Payments in BGN
16 December 2021

Our company enriched the functionality of its core banking platform BrightOS with the ability to make immediate payments in BGN and became the first Bulgarian company with such a development. The solution is implemented in the core banking systems of two banks using CSoft products - TBI Bank and Postbank. Currently, these are the only two banks in the country certified and offering instant payments in local currency.

The Instant Payments Program aims to harmonize the current rules for payments in Bulgaria with the scheme of the European Payments Council for Instant Payments in Euro, within the Single Euro Payments Area - SEPA. In this context, the scheme for immediate payments in BGN, called Blink, was created. It provides an opportunity for banks to provide their clients with a service for initiating / receiving transfers in BGN with instant settlement (within 10 seconds). Immediate payments are payment transactions available 24/7/365, through which the payee's account is credited with virtually instantaneous effect.

For us, this project is a natural continuation of our last year's development of functionality providing SEPA transfers in Euro. Then we shared that our product is the first Bulgarian core banking system in which such a solution is integrated.

We at CSoft provide quality and innovative solutions that meet international standards, through which we help the banks, our partners, in their digital transformation. We have the capability and desire to continue promoting their establishment as technological leaders in offering innovative financial services.