Last week, we had the pleasure of speaking at the Strategy for E-Commerce Success event in Sofia, Bulgaria. This event was attended by over 300 business, retail and e-commerce professionals who are all looking for new solutions and technologies for the future of business.
Auka CEO, Daniel Doderlein took the stage to address the audience and demonstrate how mobile payments, specifically the Settle app could completely revolutionise businesses in Bulgaria.
With Bulgaria being a cash heavy society, there is a significant opportunity for businesses and consumers alike to deploy new digital methods of payment which will help businesses raise profits, retain customers and ultimately improve the Bulgarian economy. But, similar to many of Bulgaria’s neighbouring nations in Eastern Europe, there is a general reluctance to move to mobile payments as they raise questions about security, safety, and transaction fees.
Daniel’s presentation was welcomed positively by the audience, as he reinforced how mobile payments are in fact much safer, more secure and faster to use than traditional cash. Businesses and consumers can get paid instantly via the Settle app, and there are no fees or hidden charges to join Settle or set up the hardware. In fact, it has never been easier to adopt mobile payments, and many markets such as the Nordics, the US and China are using these technologies as their predominant payment method.
We went out to Bulgaria and surveyed thousands of businesses. What we found was that businesses are actively online and digitising, and there is an appetite to adopt mobile payment technology, but there is a need to educate the market of the ease and convenience of doing so.
We’ve set out to inform, educate and reinforce these benefits, through our latest research report dedicated to businesses in Bulgaria and their perceptions of mobile payments. This is what Daniel shared as part of his presentation, with more insight into how Settle will disrupt the retail and business industry when it launches across Europe in the near future.
You can download the full report here: https://settle.eu/bulgaria-industry-report/