Norwegian financial technology group Settle said on March 8 it entered the Bulgarian market by launching its application for instant mobile payments in the country. Bulgarians can send and receive money, instantly for free with an app that requires no top-up. Businesses can accept digital payments using only their name.
Settle Group adds Bulgaria as their 22nd market, making Settle the largest collaborative mobile payment network in Europe.
No top up required
Up until now, sending money with your phone in Bulgaria has been limited to those who are willing to set up a new bank account and top up that account before payments can be made. Bulgarians can now download the Settle app and connect their card, or use money they receive from others. There is no top-up requirement and you simply pay as you go. You don’t even have to create or own a bank account.
Open for everyone
Settle does not require the users to have a bank account, and you can enroll in 30 seconds. You get a free Settle Account, where you receive and store funds sent to your phone number. If you do have a bank account, funds can be transferred to that account for free. With Settle you can send, receive and pay to businesses without having to wait for a tedious identification process to be completed.
Create a secure and personalized space in the Settle app
Bulgarians will be able to take advantage of the military grade security of the Settle app, keeping their money, but also their chat conversations private and confidential. Funds kept with Settle are safely stored under the supervision of the Norwegian financial supervisory authorities.
Grow your business in spite of the pandemic
Settle provides businesses with a wide range of self service and integrated payment solutions. There are no signup or monthly fees. Settle only charges a per transaction fee, when you actually sell something. Payments received with Settle are automatically settled to the bank account of the business, in any Bulgarian bank.
Settle offers a variety of ways for businesses to accept payments. Some examples include Settle Request and Settle Quick, enabling businesses to sell, get paid and manage orders in a pandemic-safe way. Marketing products and services and getting paid remotely, without any exchange of bacteria or viruses has never been easier.
Creating valuable connections
As part of the launch in Bulgaria, Settle Group has established a local daughter company, Settle Bulgaria, jointly owned and financed with local partners, ensuring the establishment of local jobs and local value creation.