STATE AND PROSPECTS OF USING BANK CARDS AS PAYMENT INSTRUMENTS IN BULGARIA

Authors

Keywords
electronic payments, bank cards, risk, SWOT analysis, PESTEL analysis

Summary
Modern payment systems, like all innovative solutions, strive to fully meet the technological capabilities and business requirements. Companies are increasingly using electronic tools as their primary means of payment and doing business. Today, the use of bank cards, electronic banking and online payment systems are the most preferred means for financial relationships between organizations, companies and citizens.

This study aims to present the use of bank cards as one of the most promising tendencies in the development of electronic payments in the country. The main tasks of the study are to examine the current state and prospects for the implementation of bank cards in Bulgaria, the risks and problems facing these banking products, especially in the field of security, and to prepare SWOT and PESTEL analyses of this payment method. The main research thesis is that the new methods of electronic payments, including bank cards, mean provision of adequate banking services, maximally convenient and efficient for consumers, which increases their competitiveness.

Based on the study, we can conclude that bank cards are becoming more prevalent in Bulgarian practice, but their application is related to solving a number of problems in terms of their security.

JEL: D14, D80, G21, L81, L86
Pages: 1
Price: 3 Points

More titles

  • LEGAL AND ORGANISATIONAL ASPECTS IN TERMS OF THE TAXATION OF NATURAL PERSONS’ INCOME DERIVED FROM AN ECONOMIC ACTIVITY

    The present study provides a thorough and in-depth analysis of the legal regime of the taxation of natural persons’ income – in particular, derived from an economic activity, as contained in the Law on the taxation of natural persons and in the relevant provisions of the Law on corporate taxation concerning the taxation of natural persons’ income ...

  • MODERN FORMS OF JOINT VENTURES

    The aim of the study is to define the basic theoretical and empirical aspects of the modern forms of joint ventures in Bulgaria. The authors have set several tasks: to study the status of the current legislation regarding these forms; to identify the main obstacles to their wider occurrence; and to offer ideas for their further development and ...

  • OPPORTUNITIES FOR INCREASING THE ABSORPTION OF EU FUNDS THROUGH IMPROVING ACCOUNTING AND INTERNAL CONTROL

    To best protect the national and European interests in the process of funds absorption requires complying with certain criteria such as legality, efficiency and economy. Applying them requires good functioning of the accounting systems and timely internal control on the administration of EU funds and programmes. The processes of absorption of EU ...