Bulgaria joined the eurozone in January 2026, converting its currency from the lev (BGN) to the euro (EUR), and is a market where card and digital wallet usage and e-commerce are growing together at this early stage. However, it should be noted first that Alipay is not a method used routinely by local Bulgarian consumers—it is a cross-border payment method for Chinese-speaking visitors and residents who use the wallet operated by China's Ant Group and Alipay+ partner wallets.

So the deciding factor is your own customer mix rather than the overall size of the Bulgarian market. It's worth considering if you actually have customers accustomed to yuan-based wallets—such as those coming through travel and accommodation bookings, airfare, study-abroad and education services, or Chinese-language online stores that attract Chinese-speaking users. If local consumers are your primary customer base, it makes more sense to consider card-based wallets or PayPal first.

When a consumer confirms payment on the checkout screen via a QR scan or in-app approval in the Alipay app, the displayed euro (EUR) amount is deducted from the wallet balance or a linked payment source. Hecto Financial receives this amount in EUR, converts it, and settles it to the merchant in Korea in the currency chosen at contract—USD, KRW, or JPY. Whether customers using Alipay+ partner wallets are also covered should be confirmed through the technical documentation before integration.

Integrating through Hecto Financial lets a merchant in Korea consider accepting Alipay without a separate contract in Bulgaria, and you can also discuss running it alongside other wallets aimed at Chinese-speaking customers. Actual support availability and terms (settlement cycle, fees, currency options) vary by industry and transaction size, so confirm with the sales team before signing a contract.

• Country of business registration

  Confirm contract eligibility for businesses registered in Korea

• Sales channels

  Integration method and priority vary depending on your online sales channel mix—own store, open marketplace, mobile app, etc.

• Product categories

  Check in advance whether your products fall under categories restricted by Alipay's merchant policy

• EU regulatory compliance

  Confirm in advance how EU payment regulations, such as PSD2's Strong Customer Authentication (SCA), apply to cross-border wallet payments (see official sources below)

Payments made by Bulgarian customers via Alipay are denominated in euros (EUR), which Hecto Financial receives in the local currency, then converts and settles to the merchant in Korea in one of USD, KRW, or JPY as chosen at contract. The settlement cycle and fee rate follow contract terms. Refunds are processed through the Alipay wallet, so confirm the refund processing timeframe and procedure before signing the contract, taking into account the 14-day withdrawal right that applies to sales within the EU.

• Bulgarian National Bank (Българска народна банка, BNB)Official information on Bulgaria's payment system and regulations related to the 2026 euro conversion. If this page's content differs from actual regulations, the official source takes precedence.