Visa becomes DSK Bank’s exclusive card issuing partner in new strategic partnership

Visa, a global leader in digital payments, and DSK Bank, a leader in banking, have announced a strategic partnership. Visa has been a reliable partner of DSK Bank since OTP Group entered the Bulgarian market.

 The main goal of the partnership is to accelerate the implementation of innovations, provide modern payment solutions and integrate Visa’s latest technologies in key areas such as security, contactless payments and digital banking. With its global experience, Visa will support the digitalization and growth process of DSK Bank, guaranteeing its customers more convenient and secure financial services.

 “We highly value our over thirty-year partnership with DSK Bank and its significant role in banking in Bulgaria. We share a common vision for digital transformation and work to provide payment methods that are fast, secure and innovative. Through Visa’s global network and the experience we have in the field of cybersecurity, we provide faster and more intuitive solutions for customers. DSK Bank is a strategic partner for Visa in Bulgaria and this cooperation will accelerate the development of innovations in the field of payments,” said Krasimira Raicheva, CEO of Visa Bulgaria.

 “At DSK Bank, we strive to constantly evolve and meet the needs of our customers in a rapidly changing digital world. This strategic partnership with Visa is an important step towards achieving this goal. It enables us to provide innovative financial services that are not only convenient and reliable, but also adapted to the modern lifestyle. By implementing new technologies and strengthening our digital capabilities, we are getting even closer to our 2.5 million customers,” said Tamás Hak-Kovács, CEO of DSK Bank.

 With more than 30 years of history in card payments, which began in 1994 with the issuance of the first debit cards, DSK Bank remains at the forefront of innovation in the field. Today, the bank processes 70 transactions per second, and in 2024, its customers made payments worth over BGN 30 billion, which is equivalent to 15% of Bulgaria’s gross domestic product. DSK Bank cards are used on average at least 15 times a month, making them an important part of customers’ daily lives. Card payments are even more widespread among young consumers – 70% of cardholders are between 7 and 18 years old. Eighty percent of active users are between 19 and 30 years old. These results demonstrate the commitment of DSK Bank and Visa to offer secure, innovative and convenient payment solutions.

 As part of the strategic partnership, by the end of 2026, all cards issued by DSK Bank will be replaced with Visa cards. The bank will start issuing only Visa cards to its customers, ensuring a smooth transition and seamless service throughout the entire process. In addition to the card replacement, the partnership will provide attractive opportunities for new and existing customers, as well as benefits that are based on Visa’s leading technologies, security and experience.

 "With an elegant and modern design, all Visa cards will be fully managed by DSK Bank's new mobile banking, including integration with Google Pay and Apple Pay. The bank's premium clients will also be able to benefit from a wide portfolio of exclusive benefits, including cashback of up to BGN 600 on credit card purchases, a fixed exchange rate for payments in euros and the most competitive exchange rates for the US dollar, British pound and Turkish lira. Additional benefits include free access to business lounges at key airports in Sofia, Istanbul, Frankfurt, Vienna, Doha, Abu Dhabi and Dubai, travel insurance, preferential conditions for rent-a-car and more," explained Slaveyko Slaveykov, Executive Director and Head of Retail Banking at DSK Bank.

 Visa cards also provide higher payment security through advanced security mechanisms such as Visa tokenization and fraud detection algorithms based on artificial intelligence. With more than 10 billion tokens issued worldwide, Visa reduces risk by replacing sensitive information with secure digital identifiers. The company maintains one of the highest levels of security in the industry for all transactions - 99.999%, thanks to its strategic investments in this area. Visa has invested more than $500 million in data analytics and artificial intelligence technologies. The company operates more than 100 advanced security systems that ensure consumer security.

 The switch to Visa cards will provide DSK Bank customers with a better customer experience. They will have access to special discounts, personalized rewards and secure contactless payments, including through digital wallets. The new cards will provide enhanced protection, more efficient support and convenient expense control through DSK Bank banking applications