Bulgarians Developed a Smartphone Payment Application

Bulgarians created a mobile application with which users can directly pay on a POS terminal. In addition, in real time the users can track the balance on their accounts.

In an interview for Bulgaria ON Air, the CEO Konstantin Dzhelepov says that only a touch of the phone to the terminal, entering the amount of money, and the transaction is completed.

What attracts even more users to take advantage of the app "Phyre JSC" is that the money transfer does not require a fee. In just a few months, over 7,000 Bulgarians already use it.

Another option offered by the app is transferring money to other people. This happens by entering the payee's mobile number and the specific amount the user wants to transfer. Upon transfer of larger amounts, a declaration of origin of money is required. The funds are transferred directly from the user's bank account.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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