On 07 October 2019 Bulgarian-American Credit Bank concluded with Bulgarian Telecommunication Company EAD a sale-purchase agreement for acquisition of the onwed by BTC 50% of the share capital of “Paytech” OOD and subsequently became the sole owner of the company.
Bulgarian-American Credit Bank undertook the necessary actions for registration of the transfer of the shares in the Commercial Register, as well as other changes in the corporate status of “Paytech” OOD.
The company “Paytech” OOD was incorporated in the beginning of 2019 as a joint-venture investment between BACB and BTC, with main purpose of development of portfolio services. With the conclusion of the transaction herein BACB continues its strategy for entering the market for instant payments, known as “portfolio services”. The Bank acquires the full control on “Paytech” and the forthcoming actions for its licensing as an E-money company.