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Payhawk, Bulgaria’s first unicorn, becomes a principal member of Visa Europe. Now the company can issue Visa cards directly without relying on third parties.

2 noiembrie 2023

Payhawk’s platform provides businesses with smart corporate Visa cards in multiple currencies, that help companies control spending at scale and save time managing expenses.

„The membership grants Payhawk the ability to directly issue Visa cards without relying on third parties and provides Payhawk with greater control of its payment infrastructure. This will accelerate innovation and help to ensure even greater service reliability and resilience.” according to the press release.

„With our new Visa membership and our recently granted Electronic Money Institution (EMI) licence, one of our top priorities is further expanding our payment options. For example, we currently offer customers the choice between debit and credit cards in some markets, but we want to offer this flexibility to all our clients,” said Hristo Borisov, CEO of Payhawk.

To receive principal membership with Visa, Payhawk had to undergo a rigorous application process and pass an audit conducted by Visa to ensure that the company meets all applicable operational, and regulatory requirements. Payhawk was also recently granted an EMI licence, with access to the entire EEA, from the Bank of Lithuania.

Hristo Borisov, CEO and Co-Founder of Payhawk says, „We started our relationship with Visa back in 2018, and they’ve been incredibly supportive to us throughout our journey – we are thrilled to now be a principal member of Visa. Together with our EMI licence, we are able to control more of the payment processing stack, and therefore able to move faster and optimise the infrastructure to best address the needs of our clients.”

Juha Sillanpaa – Visa, Group Country Manager, Finland and Baltics, comments: “We are pleased to collaborate with Payhawk, recognising it as an innovative fintech combining product development and a customer-first approach. Our partnership will help unlock opportunities for Payhawk clients, underpinned by a robust regulatory framework.”

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Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?