The Paysera network of financial technology companies is expanding to Georgia, where the first Paysera bank will open its doors. On November 17, 2022, the National Bank of Georgia granted the company ‘Paysera Georgia’ its 15th commercial bank licence and its first digital bank licence.
There will be two customer service centres in the country’s capital, Tbilisi, with most services provided remotely. The bank will support SEPA and SEPA Instant payments, which means a large number of transfers from Georgia to Europe will reach the recipients in seconds. The bank will start providing services to clients at the beginning of 2023.
Gintautas Mezetis, CEO of Paysera LT, says:
“The Bank in Georgia marks a new phase of our determined development. It is the first bank in our network, so we are eager to start operations in a country that ranks very high in the ‘Doing Business’ ranking of the best business conditions. In Georgia, we will witness how fintech technologies that have been tested in Europe and used by millions of people, are being applied in traditional banking. We are delighted to be taking this path with experienced local entrepreneurs who best understand the needs of local people.”
Also Read: How is Metaverse Technology Revolutionizing The Digital World Landscape?
The Paysera brand and technology will be introduced to Georgia by local entrepreneurs. One of them is Dimitry Kumsishvili, a businessman and business angel, former minister of finance and economy, and former vice prime minister of Georgia.
Dimitry Kumsishvili, co-owner and CEO of Paysera Georgia, says:
“The National Bank of Georgia highlighted the sustainability of the Paysera business model by granting Paysera Bank Georgia the first-ever digital banking li cence. In this connection, having a member with a banking licence benefits the Paysera network and significantly increases the capabilities of the entire group, as well as the valuation of Paysera.“
According to D. Kumsishvili, the business model of the bank is based on integration with the EU financial system and includes, but is not limited to, providing innovative products to its clients.
“Paysera serves as a connecting link between the EU financial system and those countries who have a need for access to it. Meanwhile, it is worth mentioning that the banking system in Georgia is highly developed and competitive, and even in this competitive market I have no doubt that Paysera Bank Georgia will take an important place,” added D. Kumsishvili.
SOURCE: PR Newswire