Multipass is a financial services provider offering global business accounts, multi-currency payments, and cross-border transaction solutions.
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Money Transfer
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Bulgaria · Payment institution
Remittance and payout software for payment institutions licensed in Bulgaria
Bulgaria joined the euro area on 1 January 2026, so a Bulgarian PI now pays out in the same currency as its neighbours to the west and in a different one from Romania. Corridors, rates and the paper trail for each transfer decide whether that works. Those are the parts our platform runs.
- Remittances in and out of Bulgaria
- FX margins set per corridor
- Payout batches with a second approver
- Funds in transit tracked per transfer
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Transfer services a Bulgarian PI can offer
Remittances to family abroad
A sender picks a recipient, sees the rate, the fee and the amount that will arrive, and pays. Euro destinations go over SEPA, other currencies over SWIFT through a connected provider.
Payouts for platforms and employers
Marketplaces and staffing firms send salaries or seller payouts as one file or one API call, released only after a second person approves it.
Corridors with their own pricing
Fees and FX spreads defined per currency pair and client group, so opening a lei or pound corridor is a matter of configuration.
Payment accounts for regular senders
Accounts with an IBAN used to execute transfers, where the balance is shown as money waiting to go out rather than savings.
Traceable returns
Every transfer carries its own status history, so a rejected payment goes back to the person who sent it, with the reason recorded.
What this licence does not cover
- Stored balances customers keep for spending. That is e-money and needs an EMI licence from the BNB.
- Interest on money held in payment accounts. The Bulgarian payments law rules it out for payment institutions.
- Starting small under a registration. Bulgaria has no registered or small PI regime, so even a domestic remittance business needs the full licence.
What the regulator asks about your IT
Each requirement, what the platform gives you for it and who owns it after launch.
A clear list of the payment services the platform performs for you, so your services list and capital tier line up.
You, with your lawyersPer-transfer records showing which funds are still in transit at each cut-off, ready to reconcile with the safeguarding account.
Your finance teamPayee name and IBAN passed to your verification service, with the result shown to the sender before confirmation.
You, with your rails providerSender identity and address taken at onboarding and attached to each outgoing payment.
SharedTransaction, fee and balance exports your auditor can test against the general ledger.
You, with your auditorService description, data locations, subcontractors and exit terms for your register of information.
You, with our inputLimits by corridor and client type, plus transfer data exports for your screening and monitoring tools.
Your AML officer
Payment rails and providers
Rails your customers can use
SEPA Credit TransferSEPA InstantSWIFTInternal transfers
24/7
real-time processing, no batch window
60+
payment and provider integrations connected
150+
companies run on Crassula
15+
languages the platform speaks
Dates to plan around
Rules that change what you have to build, in the order they apply.
5 Aug 2025
Bulgaria's payments law stops exempting settlement finality systems from the open access rule. Payment systems may not turn a PI away because of its legal status.
1 Jan 2026
The euro replaces the lev. The BNB closes its lev settlement system RINGS, capital tiers are set in euro and the PI review fee becomes EUR 4,000.
1 Jan 2027
Bulgarian payment service providers, PIs included, must check the payee name before a euro transfer and charge no more for instant than for regular transfers.
9 Apr 2027
Bulgarian PIs that offer euro transfers must send and receive them as instant payments.
10 Jul 2027
The EU Anti-Money Laundering Regulation applies, with one rulebook for customer due diligence.
Around 2028
PSD3 is expected to apply. Licensed Bulgarian PIs will have to show the BNB they meet the new rules.
Applying to the BNB for a payment institution licence? Put us in your file.
The BNB checks how each payment service works in practice, from the moment money arrives to the moment it leaves. A running transfer platform, described accurately in your technical sections, gives it fewer reasons to come back with questions.
01
A platform you can demonstrate
A configured environment to show the regulator, not slides.
02
The technical part of your application, prepared
Payment flows, IT security, ICT risk and DORA, outsourcing and continuity sections, ready for translation into Bulgarian.
03
Providers lined up
Banking, safeguarding and KYC providers from our network, matched to your licence.
Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
A Plovdiv payout business, step by step
Imagine a company that pays seasonal workers recruited in Bulgaria for farms and hotels in Germany, Spain and Greece. It applies to the BNB for money remittance and payment accounts, which puts it in the EUR 125,000 capital tier because payment accounts are included.
Since the euro arrived, most payouts are euro to euro and go over SEPA, with SEPA Instant as the default once the 2027 deadline nears. Payouts to workers' families in Romania and North Macedonia run over SWIFT through a connected provider, each corridor with its own price list.
Further reading: the Bulgaria EMI and PI guide and how payment institution licences work.
Read the licence guides
FAQ
It depends on the services. Money remittance alone needs EUR 20,000. Payment initiation needs EUR 50,000, and the other services, such as payment accounts, transfers and card acquiring, need EUR 125,000. These amounts have been set in euro since 1 January 2026.
EUR 4,000 for a payment institution licence, and EUR 2,500 to add services to an existing licence later. Both are set in BNB Ordinance No 16, which switched from lev amounts on 1 January 2026.
The law now requires payment systems, including settlement finality systems, to set objective and non-discriminatory access rules and not to exclude a provider because of its legal status. Whether direct participation suits you, and how we connect to it, is something we scope together.
The Instant Payments Regulation gives countries that adopt the euro one year to comply. For Bulgaria that means payee name checks and fair pricing of instant transfers by 1 January 2027. Sending and receiving instant payments is due by 9 April 2027, the same date as for other euro area PIs.
Bulgarian. Application documents are filed in Bulgarian, foreign documents need a Bulgarian translation, and the file is lodged on paper and on an electronic device.
Yes. A licensed Bulgarian PI can passport its services across the EEA after notifying the BNB, using the same platform for every country it adds.
