A family’s transition from a regular to a digital wallet
You are going to experience a story of a transition - an ideological one, surrounding an average Bulgarian woman, acquainted with the spirit of a fighter and harboring a great attachment to customs and traditions. From a daughter’s perspective, I have always admired my mother's ability to overcome any problematic situations, to take care of me and my younger brother, to be a loving wife, but also a dedicated career woman. Inspired by my mother's mental endurance and spiritual strength, I decided to step out of my comfort zone - studying abroad was the perfect opportunity to test my own abilities.
Life before the transition:
The preparation prior to the start of my journey was long but exciting. Saying goodbye to my loved ones was one of the most difficult experiences. If I only knew what was ahead of me ...
Living and studying in a foreign country is exciting but very expensive - we all know that. The British pounds I had to live with for the first few months of my stay were in cash. Such a thick bundle of money had not been trusted to me until this moment. My mother, who used to question all "new technologies" and despised the high bank taxes for international transfers, insisted that me flying from Varna to London with £ 4,000 in my pocket was the safest and most inexpensive option. Unfortunately, I fell asleep at the London airport which led to me getting robbed. However, not all my money got stolen because I had divided the amount into two places - in my wallet and in my hand luggage. I was then left with a very limited budget, forcing me to go on a rather restricted diet. The call I had with my mother, explaining her the situation, went through several stages - panic, anger, coming in terms with the absurdity of the situation in which we had found ourselves.
Before leaving my home city, banking was a distant and unnecessary responsibility that life confronted me with in a rather unpleasant way. For the first time, the educational role was in my hands - I needed to find an easy and affordable way for bank transfers to happen, which my mother could trust. I researched different options to make the best choice. RaiPay and UniCredit Bulbank offered the functionality I was looking for, but there was no option for a bank account in pounds. In addition, RaiPay was only compatible with Android, and I am an iOS user.
Among the countless applications on my phone was also the iCard app. I had used it for a past online purchase but I had never learned all its features. I already had my own iCard account - all that was left was for my mother to create one of her own. The unique thing about this Bulgarian company is the possibility of owning multiple virtual accounts in different currencies, which work without the aggravating transfer fees. Presenting my mum with the research I have conducted, I was able to convince her that further money-related accidents can be avoided by switching to this digital wallet. The few tears I shed added some extra value to my arguments. After a seamless creation of a virtual account, currency exchange and a tax-free transfer - all through the application - my mother was fascinated with iCard.
Life after the transition:
When I went back to Bulgaria during the holidays, I found that the mobile application has become an integral part of my family's life. Contactless payments had become everyone’s new habit. My younger brother, still a minor, was showing off his own debit card to his classmates. My parents had all their loyalty and bonus cards digitized, which not only had slimed down their wallets but was allowing them to double the points collected when shopping. Waiting outside a utility bill’s payment point was a thing of the past – all this was replaced by paying through the app.
The digital wallet improved aspects of our family life, which we were accustomed to. Therefore, the existence of such a simple solution to problems we did not even know we had, was a big surprise. My mother, strong and independent as ever, kept her passion for tradition, but now iCard was also included.