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Coinify becomes the preferred bitcoin payment processor for south-eastern Europe

New partnerships aid to support the digital currency adoption in the Balkan region

We have teamed up with the leading payment service providers in the area to let hundreds of local merchants accept digital currencies. As part of this deal, all Webteh and EuroPayment Services’ customers will be able to start accepting bitcoin instantly – Bitcoin will be a new payment method offered by the PSPs in addition to the existing ones (e.g. Visa).


Attractive region for Bitcoin

There are several indicators that this part of Europe (comprising of Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Romania, and Serbia), shall not be overlooked by the business and tech community. For instance, GDP in Bosnia and Herzegovina, grew 4.4 percent in the second quarter of 2015 over the same quarter of the previous year. Slovenian PM Miro Cerar predicted a long period of growth between one and four percent per year in the region during his speech for the Summit 100 earlier this June.

“Countries in southeastern Europe are often referred to as frontier markets. We see them as the upcoming high growth area that we want to be part of,” expressed Coinify’s CEO Mark Højgaard. “The growth in economy and increasing technology adoption positively influence the growth in online services. In this momentum, as more businesses in southeastern Europe are going online, we see perfect timing and great potential with these deals.”


Meet Webteh

Mark and Narcis

Coinify’s CEO Mark Højgaard in a handshake with Narcis Gečević, partner at Webteh

Croatia-based Webteh offers merchant account and payment gateway solutions mainly in Bosnia-Herzegovina, Croatia, Serbia, and Montenegro markets. Narcis Gečević is a partner at Webteh and business developer at Lupon ventures, an investment group with 10+ tech and online companies. Besides Webteh, Lupon’s portfolio includes another payment service provider Pikpay, based in Bosnia and Herzegovina. “We have hundreds of merchants in the balkan region, and they are very positive about the fact that we implement digital currencies among payment options,” expressed Narcis. “At Lupon, we are always on a lookout for local companies acting as first movers in the industry, those who set the trends and educate… be that in web, mobile, app and game development; e-commerce; digital marketing; hosting; media or publishing services. I can see a great potential in the digital currency adoption among some of these companies and the market as general.“


Meet EuroPayment Services

Mihai and Razvan

Mihai Manoliu from Coinify at EuroPayment Services with Răzvan Mânzu


EuroPayment Services, based in Romania, is one of Europe’s larger payment processors, supporting over 1,800 active merchants. The company offers payment processing on multiple channels including 3D Secure payment, SMS payments, instalments and recurring payments and was among the first to introduce the 3D secure system in the region.

Răzvan Mânzu, Sales Manager at EuroPayment Services commented on the new partnership:  “I am thrilled about the opportunity that is now presented to us and am looking forward to our future cooperation. We have already implemented Coinify solution and we are welcoming our partners, both customers and merchants.” According to Răzvan, Romania is becoming increasingly attractive market for digital currencies: “We have discovered a very interesting community of Bitcoiners in Romania that is constantly growing. Therefore we are eager to start offering services to this community.”

Mihai Manoliu, Regional Manager for Coinify, confirmed this observation: “Here in Romania and its vicinity, I have met many local Payment Providers interested in Coinify’s solutions either for the gateway or the trading platform. The companies acting in tourism, ticketing and even the biggest service providers are looking for new payment options for their customers.” And the location of these providers seems to be influential too. “As the market requests, the local players are looking for strong partners in the Bitcoin world. Being the biggest service provider in Europe and well established Bitcoin company, Coinify is often the number one choice to work with,” added Mihai.

We would like to thank Webteh and EuroPayment Services for choosing Coinify as bitcoin payment processor and welcome their users aboard!

Do you want to accept digital currencies? Get started by creating your own merchant account with us – it is free and takes less than 5 minutes!

Image credits: Coinify.

The news have also been covered by Finance Magnates and CoinJournal.

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