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We're excited to share that Runa's global journey continues with our latest milestone: launching in Bulgaria, a nation on the cusp of a digital payments revolution. This expansion enables Runa customers to convert funds into Bulgarian Lev and send payouts to recipients in Bulgaria that can be used at a wide array of merchants, both local and international.
Bulgaria presents a unique landscape characterized by its burgeoning fintech potential amidst a traditionally cash-dominant economy. However, the tide is turning. Digital payment solutions and mobile banking apps are increasingly favored among the Bulgarian population. Discover how Runa's entry into Bulgaria aligns with the country's digital revolution, giving businesses a unique chance to enter a promising, untapped market.
A Market Poised for Transformation
Despite the dominance of cash transactions, with over 80 percent of all transactions conducted in cash as recently as 2020, there's a noticeable shift towards digital payment solutions and mobile banking apps gaining favor among the population.
Recent years have witnessed a softening in cash reliance, with cash transactions in 2021 dipping slightly to post-COVID-19. This trend marks the beginning of a potential shift in consumer behavior towards digital solutions. Runa's platform, designed for instant digital payouts, is here to catalyze this shift, providing businesses and consumers in Bulgaria with a modern, efficient alternative to cash. This not only streamlines operations but also meets the growing consumer demand for digital payment options, positioning your business as a leader in customer convenience and innovation.
Amplifying Loyalty Programs
Interestingly, Bulgaria stands out for its relatively low membership in loyalty programs, with only 39.2% of Bulgarians adults having a loyalty membership. Yet, simultaneously, it has one of the highest percentages of adults who believe all brands should offer a loyalty program, with 59% of adults thinking that all brands should offer a loyalty program.
This gap in the loyalty program landscape presents an untapped opportunity for your business to captivate a market that clearly desires more engagement from brands. Utilizing Runa to introduce digital rewards as a way to enhance loyalty programs can significantly boost customer retention and satisfaction, giving your business a competitive edge in Bulgaria's evolving market.
The Runa Advantage in Bulgaria
Your business can stand out in Bulgaria's emerging economy by choosing Runa for digital payouts, incentives, and rewards. Here's how:
- 24/7 Currency Conversion with Runa FX: The digital economy never sleeps, and with Runa FX, your business can easily navigate cross-border transactions. Convert to Bulgarian Lev in real-time, sidestepping the constraints of traditional banking and minimizing conversion fees.
- Expansive Payout Options: Diversity in payout options is crucial. This expansion of the Runa Network means businesses can now cater to the nuanced needs of their Bulgarian audience, offering payouts that resonate locally and globally.
- Seamless API integration: Say goodbye to the hassle of manual payout processing and hello to a more efficient and effective way of doing things with Runa's API integration. Simplify and optimize your payout options, allowing you to focus more on the core aspects of your business.
Why This Matters
Choosing Runa places your business at the heart of Bulgaria's digital shift. It's an opportunity to streamline operations, engage deeper with your customers, and expand your presence in a market that's only just begun to reveal its digital potential.
Are you eager to explore how Runa can transform your business in Bulgaria? Contact us to schedule a demo with our team of payout experts. Together, let's navigate the future of digital payouts and rewards in Bulgaria's vibrant economy.
