Paysera to become a bank in Georgia: central bank grants 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."
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.
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.”, - D. Kumsishvili adds.
Paysera's network of companies is expanding geographically on a franchise-like joint-venture concept, connecting companies from different countries to the network, founded and managed by experienced local entrepreneurs.
Paysera is a fintech company that provides fast, convenient, and affordable financial and related services globally. We offer products ranging from a payment gateway for e-shops to money transfers, currency conversion, payment cards, an event ticketing platform, a parcel locker network (to be launched in 2021), and a top-notch finance management app.
Beginning our journey in 2004 in Vilnius, Lithuania, we are the first licensed e-money institution (EMI) in Lithuania, with 300 people working in 15 different cities worldwide. With over one million app installs and growing, we aim to push the boundaries and become an industry-leading super app that provides financial and lifestyle services across the globe.