Paysera Bulgaria applies for a Bulgarian National Bank license to Issue electronic money
Paysera Bulgaria AD has officially launched the procedure to obtain its own Electronic Money Institution (EMI) license. According to a notification submitted to the Bulgarian Stock Exchange (BSE), the company has filed the necessary application with the Bulgarian National Bank (BNB).
This move is part of Paysera Bulgaria's long-term development strategy, presented during its Initial Public Offering (IPO) on the BEAM Growth Market.
"This marks an important step in the company's strategy to obtain an independent license from the Bulgarian National Bank and further expand its operations on the Bulgarian market," the company stated.
The submission of the application represents a transition towards full operational independence and will enable the company to significantly broaden its portfolio of digital financial services in Bulgaria.
Fintech platforms of this type often operate as agents or partners of foreign companies licensed in other EU Member States. Obtaining a direct Bulgarian license will place Paysera Bulgaria in a different category, as an independently regulated financial institution under the direct supervision of the Bulgarian regulator. Until now, the Bulgarian entity has operated under the license of its parent company issued in Lithuania.
Under the Bulgarian Payment Services and Payment Systems Act, an Electronic Money Institution (EMI) license allows technology companies to provide nearly the full range of payment-related banking services without having to undergo the lengthy and costly process of obtaining a full banking license.
The license enables companies to issue electronic money and provide payment services, including the opening of individual IBAN accounts.
At the same time, it comes with strict safeguarding requirements, including supervisory rules requiring financial institutions to maintain adequate capital and comply with the statutory deposit protection framework established by the central bank.
