According to recent amendments under Bulgarian law, effective from 27 July 2012, the pre-paid cards have been expressly regulated as a type of payment instrument for carrying out payment transactions.

Specific requirements regarding the pre-paid cards, such as term of their validity, requirements for personalisation and authorisation are set out in Regulation, as well as the conditions and procedures for executing payment transactions by pre-paid cards.

The Regulation also contains the framework for executing payment transactions with prepaid cards via POS terminals at traders and for processing and settlement to facilitate their acceptance by payment service providers and merchants.

There are also additional provisions establishing the technical and business requirements for carrying out credit transfers and direct debits in Euros, as required by EU law (the newly adopted Regulation No 260/2012 of the European Parliament and of the Council of 14 March 2012)

Law: amendments to Ordinance No. 3 on payment transactions and payment instruments, published in State Gazette, No. 62/2009; Regulation No 260/2012/EU dated 14 March 2012