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8 Million Credit Cards Are Currently in Use in Georgia

In a population of 3.72 million people in Georgia, about 8 million credit and debit cards are being used, according to Majeed Hujair a Senior Director at School of Public Policy.

About 36% of people globally use credit card payments while there are 2.5 billion adults who do not use formal financial services.

Global payments technology company Visa organized a two-day workshop on electronic payments and financial education “Foundation of Payments” supported by the National Bank of Georgia (NBG). Workshop took place on April 24 – 25 at the premises of NBG. The aim of the workshop is to raise awareness on financial education and customers’ trust towards the electronic payments and instruments.

At the workshop Mr. Majeed Hujair, Senior Director of Visa School of Public Policy and workshop attendees discussed the following topics: influence of the electronic payments on development of the country’s economy, international experience of electronic payments’ development and innovations.

“Along with the development of the payment systems, it is very important to maintain customers’ trust towards the electronic payments and one of the functions of the National Bank of Georgia is supporting secure, sustainable and effective functioning of current payment systems of the country. We believe, that such workshops will contribute to raising financial education of the customers and introduction of current trends of the payment market as well as raising customers’ trust,” commented Mr. Murtaz Kikoria, Vice-President of the National Bank of Georgia.

“Workshops delivered by Visa School of Public Policy are designed to provide participants with an overview of Electronic Payments and introduce the benefits it provides at the country level, for different stakeholders and consumers. We believe in a special role of mass media in delivering accurate information and raising awareness toward financial literacy among consumers, as well as the instrumental role of the central banks in helping citizens to become financially capable and building consumers trust in the financial system,” commented Majeed Hujair, Senior Director, Visa School of Public Policy.