28.03.2023

NEW SERVICE INSTEAD OF BANK TRANSFERS: TRANSFERS TO CARDS

Sending money to bank cards is now also available for Bulgarians. The service is new to our market – it was launched earlier this year and is about to gain a lot of popularity, analysts say.

Transfers to cards of individuals are significantly different from alternative ways of sending money - bank and p2p transfers for example. They are defined as the next stage in the evolution of everyday payments that we have witnessed in recent years.

Transferring funds between users is becoming faster and easier. It no longer matters whether the sender and receiver of the transfer are customers of the same bank or mobile application. It doesn't even matter if the two are from the same country. There are only two conditions for a transfer to a card: the recipient must have a Visa payment card issued in the European Economic Area, and the sender must enter its number in the iCard digital wallet.

Most often, users choose this type of payment when they want the transfer to arrive quickly - in seconds. Another advantage is that the transfer can be sent at any time of the day, every day, from anywhere in the world, i.e. there are no restrictions related to the working hours of the banks. The availability of the iCard service for the entire European Economic Area, and not only for Bulgaria, is undoubtedly convenient.

Instant transfers to a card are performed after a few taps on the phone screen. They are preferred when splitting bills in restaurants, paying off debts (including credit cards), sending transfers to relatives and friends, etc.

Money transfer to any Visa debit, credit or prepaid card in Europe is possible thanks to the cooperation between iCard and Visa.