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Georgia is the Leader Country in the Region to Implement Innovative Technologies: Visa Official

Visa International a global leader in payments said Georgia is the leader country in region to implement innovative payment technologies.

The speakers Mandy Lamb, Group Country Manager for CIS & South-East Europe, Andrei Aleikin, Senior Director, Emerging products & innovations for CIS & South-East Europe and Hector Rodriguez, Vice-President, Risk for the Central and Eastern Europe, Middle East and Africa (CEMEA) region spoke at a special press conference for the local media outlets.

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The speakers briefed journalists on the latest global trends in the payments industry, shared details on the multiple layers of security Visa uses to prevent fraud, along with sharing insights on how Visa is addressing market opportunities.

The Visa representatives summarized the successful performance of the company in Georgia highlighting that in terms of cards penetration and readiness to accept innovations, Georgia is one of the leading countries in the region. For example, in 2015 Georgia was the first country to launch Host Card Emulation in the region.

Georgia also led is issuing Visa payWave and contactless micro tag stickers in the South Caucasus, with 28% of all face to face Visa transactions in Georgia made on Visa payWave cards in September 2015.

Visa has already invested and is planning to further invest in the industry development in Georgia for the coming years, launching innovative products, providing secure and reliable payments for its customers and deepening the established partnerships with leading Georgian banks, government and law enforcement agencies.

As Mandy Lamb, Group Country Manager, CIS&SEE commented:

“Visa’s business is focused on growing electronic payment and displacing cash in the system. With Georgia being one of the most progressive and innovative country’s in the region, and a flagship market for Visa

PayWave and contactless payments, we believe that we are very much on track to achieving this goal.”

Andrei Aleikin, Senior Director, Emerging products & innovations CIS&SEE has mentioned:

“The world is rapidly becoming more connected, millions of devices will be connected to the internet, and the ability to pay or be paid will be at the heart of many everyday devices and services. Visa is offering the payments ecosystem – financial institutions, their technology partners and vendors – the tools and services that help develop new deliver secure, fast and reliable payments services across diverse commerce experiences.”

This is why we opened up our network through Visa Developer, an open platform for developers, offering API interfaces for direct access to new Visa services.  . In doing so, we aim to accelerate the migration to new digital commerce experiences and support of consumers who increasingly rely on connected devices to shop, pay and get paid.

Hector Rodriguez, Regional Risk Officer, CEMEA:

With the speed of payment innovations in the world and in Georgia particularly, our role as one of the world’s leading payments network is to make sure every time a Visa cardholder enters their card details online or dips, swipes, or taps their Visa card at the point-of-sale, they know they are accessing the most secure way to pay.

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“Visa employs multiple layers of security that work together to help us manage fraud. From anti-counterfeit features, to network-based fraud detection, to data security standards to help keep sensitive information secure, Visa is committed to leading the industry toward a more secure, trusted payment system. And, to ensure consumers feel they feel confident in using their Visa card, we are working with Georgian issuers to strengthen consumer protection in the market by introducing rules that will provide Visa cardholders peace of mind whenever and wherever they use their Visa cards.”