DRIVING DIGITAL GROWTH: VISA’S BULGARIA PAYS DIGITALLY ‘ INITIATIVE TRANSFORMS SME PAYMENTS

SITUATION

Many small and medium-sized enterprises (SMEs) in Bulgaria lose competitiveness in an increasingly digital economy due to limited usage of digital payment solutions. Despite growing consumer demand for cashless transactions, a large number of businesses had not integrated digital payments, creating barriers to growth and customer satisfaction.

To address this challenge, Visa launched the “Bulgaria Pays Digitally” initiative in collaboration with Bulgarian banks, government institutions, and NGOs. The program aimed to support modernization of the Bulgaria’s economy by encouraging the adoption of digital payment solutions among SMEs.

GOALS

• Raise awareness of the program and educate small and medium businesses on the benefits of digital payments.
• Reduce skepticism by debunking myths surrounding card transactions.
• Strengthen Visa’s reputation as a leader in payment technology and a key player in Bulgaria’s digital transformation.

STRATEGY

• Highlight the benefits of cashless transactions for business growth and customer satisfaction.
• Showcase real success stories to demonstrate the ease of digital payment adoption.
• Collaborate with banks, government institutions, and NGOs to ensure a seamless rollout
• Leveraging Visa’s reputation through direct outreach, media partnerships, and third-party advocacy

TACTICS

Media Communication

Press Releases & dedicated media publications

• 4 press releases published in national business, tech, and general media
• 72 dedicated publications in national and regional outlets.

Special Media Project

• А series of 8 articles in the most popular Bulgarian general media 24 Hours Daily (newspaper & online), to increase program visibility and inform small and medium-sized businesses about the advantages of digital payments.

Interviews

• Visa Country Manager interviews featured in daily 24 Hours, and in the leading business magazines Manager, Forbes and BGlobal

Radio Outreach

• Radio Campaign – broadcasted on Radio Veselina, Magic FM, The Voice, and Radio Vitosha, and articles on their websites.

Events

Program launch event for media & partners

• Two-panel event for program announcement with the participation of government institutions, NGOs, client banks, and top-tier media. Attended by 65 people.

– First panel – representing the program by Visa local team and CEE cluster representatives

– Second panel – discussion with the participation of CEOs and retail directors from biggest banks about program benefits for SMEs and banks role in its implementation

– Q&A session for journalists.

Big Small Awards ceremony for SMEs

• Visa supported and participated in 24 Hours Daily’s event for awarding the participants in a newspaper SME’s competition. Visa Country Manager handed one of the awards and conveyed main program messages.

Ecommerce & Retail Summit

• A hybrid event gathering top professionals in e-commerce, retail, and fintech discuss the trends in the sector.
• In this context Visa represented the program details and benefits.

Visa Acquirers Breakfasts

• Two training events hosted by Visa for acquiring banks and partners. Each attended by ca. 50 people who were trained how to communicate the program to end-consumers.

Video Storytelling & Digital Content

Visa Success Stories Video (1’40”)

• Featured three merchants (a flower shop, a grocery store, and a bar owner) sharing how digital payment adoption transformed their businesses.
• Aimed at inspiring other SMEs to integrate cashless solutions.
• Shared across Visa’s social media platforms and partner channels.

Infographic with main program characteristics and benefits – distributed with press releases and dedicated media publications in T1 outlets

Social Media Campaigns

• 23 posts across Facebook & LinkedIn, featured on Visa Bulgaria and partners’ channels.
• Shared by stakeholders and partners organizations, amplifying visibility.

B2B Communication

Set industry organizations and business associations partnerships to maximize the program’s reach:

• Bulgarian Chamber of Commerce & Industry (BCCI)
• Bulgarian Industrial Association (BIA)
• National Association of Municipalities in the Republic of Bulgaria (NAMRB)
• American Chamber of Commerce (AmCham)
• Association of Industrial Capital in Bulgaria.

Information about Bulgaria Pays Digitally program was published in their communication channels throughout the program implementation and sent to an ample database of SMEs

RESULTS

Visa’s commissioned study, conducted a year after the program launch, evaluated the influence of digital payment adoption among SMEs in Bulgaria, revealing enhancements in usage, market uptake and consumer shifts:

• 33% of all new POS terminals during the year were installed at program participants.
• 61% of new terminals from Visa’s partner banks were placed within the initiative.

The communication campaign contributed significantly to the high awareness of the programme, providing media coverage with a daily reach of 2.2 million people and direct outreach to 1200+ SMEs.