Paysafe – the company that continues to grow in Bulgaria

It is now possible to work in Bulgaria and pursue an international career. Many western companies are opening back offices in Sofia and are doing their innovations here. Paysafe is one of them. In 2017 it was declared the largest software company in Bulgaria and in October 2018 it exceeded 1000 employees in its Sofia office. Every month the Sofia team increases by approximately 30 people in order to accelerate the development of the technology and support services that are created and handled here.  The Sofia office very much operates as the engine powering the entire international Group.

Territory

Paysafe Group is a leading global provider of end-to-end payment solutions. Currently it operates three divisions: payment processing, prepaid vouchers and digital wallets. Paysafe’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, card issuing and online cash solutions. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments.

Why Bulgaria

Bulgaria is attractive because there is extensive IT talent in the country and Bulgarians very often have a good command of several foreign languages.  People are also motivated, and highly capable. Among other things, it is cost effective to have a base here – there is an opportunity to optimize investment budgets and low taxes can also appeal to some international companies. It is also positive that we are part of the EU. Paysafe Group's global leadership does not expect Brexit to have any significant impact on the situation regarding their investments in Bulgaria as the country has advantages that are recognized and used by them.

The Sofia Office

At Paysafe, under one roof, programmers, financiers, risk managers and customer service staff are working together. However, the market is very competitive in terms of hiring good professionals. In order to be more attractive as a place of work they are offering a number of social benefits and facilities for their employees. This has enabled the creation of an excellent working environment and a positive team dynamic, laying the foundation for smooth work processes with the right people in place. The aim is to create a strong corporate culture and high employee engagement. As a place to work it offers interesting projects, good salaries, motivated colleagues, growth opportunities, and a number of social benefits... Just one of them to note is that they are currently working on a project to create a kindergarten for children of their employees.

The Focus

The Sofia office is the main engine for the development and engineering of Paysafe's alternative payment methods, with over 200 software engineers dedicated to product development. Among the products that they work on are digital payment and money transfer services. A large number of local employees support the company’s Skrill and NETELLER digital wallets specifically.

The team in Sofia also provides worldwide customer services in 16 languages, and the local team also provides support in areas such as IT service and infrastructure, risk management and fraud prevention. Paysafe continually attracts and develops specialists in the field of software product development, technology and finance.

Social responsibility

For the past couple of months, Paysafe has received a number of awards both at a local and global level. Many of them are thanks to campaigns encouraging differences and social inclusion. Paysafe Bulgaria celebrated the 1000-employee milestone of their team with a donation to children in need - a cause chosen by the employees themselves. A total of 12 causes in Bulgaria, identified together with the BCause Foundation, will receive funding of 100 000 BGN Lev. Employees will also be able to use company time to volunteer for these causes.

Where to next

Paysafe is working for a gradual transformation towards a cashless society, as consumers’ relationship with physical currency changes. However, Miroslav Bozhilov, the general manager for Bulgaria, does not anticipate that cash will disappear in the foreseeable future. Rather, he predicts that e-commerce will increase and people will be looking for digital cash alternatives. . The company has plans to accelerate its rapid development to date. The Sofia team will continue to grow.

In numbers

• Paysafe Group has more than 20 years of experience in the field of digital payments
• The annualised transactional volume is over US $80 billion
• The company has approximately 3,000 employees located in 12+ global locations
• Approximately 200 payment types in over 40 world currencies
• Paysafe Bulgaria has over 1000 employees

Who is who

Miroslav Bojilov leads the Bulgarian office

Miroslav Bojilov has been the General Manager of Paysafe’s Bulgaria office since September 2016.  His role is to lead the company’s local operations as a key Paysafe location and ensure the office continues to support the company’s global operational and IT growth plans. 

Miroslav returned to Bulgaria to take on the General Manager position after living in the US for nearly 23 years. He is a seasoned leader, having previously spent 15 years in management consulting - eight of those with Deloitte Consulting in the US, leading complex strategy and operational improvement initiatives at North American financial services, technology and payments corporations.

In 2015 Miroslav acted as a consultant during the acquisition of Skrill by Optimal Payments. After that the company re-branded to Paysafe. A year later, Bojilov received a proposal to head Paysafe’s Bulgarian office. He is glad that the company has created opportunities for the development of young people, which he himself did not see in the industry in 1993 when he went to study in the United States.