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Fintech companies are increasingly accepted as a more convenient, flexible and inexpensive alternative to commercial banks. From a regulatory point of view, the European PSD 2 Directive creates a more favourable environment for fintech companies and facilitates their expansion on European markets, while significantly increasing confidence in the sector by imposing strict regulatory requirements.
The ecosystem in Bulgaria is evolving thanks to the highly qualified IT talent and the entrepreneurial spirit.
Financial services with great potential to be proliferated by Bulgarian fintech companies include, among many, mobile payments, digital wallets and investment robo-advisers. Technologically, the popularity of Near-Field-Communication (NFC) and contactless mobile payments are growing. In addition, small and medium-sized enterprises (SMEs) are increasingly interested in workflow automation and cloud technologies to facilitate the management of their finances.
Tenen Payments JSC is a regulated e-money institution (EMI License #131/27 April 2021). Our payment solution covers money transfers, payment account management, FX and digital wallets. The company is registered with the Bulgarian Commercial Register under unique identifier: 206032163 / 21 February 2021. 10nPay is a registered trademark of Tenen Payments JSC.
Pursuant to the Law on the ratification of the Agreement between the government of the Republic of Bulgaria and the government of the United States of America to improve the international tax compliance and to implement FATCA (SG issue 47 dated 26 June 2015), Republic of Bulgaria is subject to comply with Foreign Account Tax Compliance Act (FATCA).
Tenen Payments JSC is registered in the U.S. Internal Revenue Service (IRS) and has obtained the following Global Intermediary Identification Number (GIIN): D4AHC8.99999.SL.100.
