Banking
Posted: 2 months ago

Georgia is Leading the Way in Delivering Fast, Easy, Secure Payments at Checkout

Visa today announced that Georgia is now leading the way globally to improve checkout through fast, easy and secure contactless payments. Georgia’s contactless penetration is now over 95% in domestic transactions[1].  

For many years, Georgia has been front and centre in terms of the adoption and use of payment innovations. Visa has been actively working to improve the checkout experience for consumers by introducing the speed, convenience and security of contactless payments. Consumers in Georgia have quickly embraced the benefits of tapping to pay with contactless cards and digital wallets with more than nine out of every 10 face-to-face domestic payment transactions occurring with a tap in the market.

“At Visa, we are proud of, and excited about yet another historic accomplishment achieved by Georgia. Georgia has always been a pioneer in adopting new payment solutions, right from being the first country in the CISSEE region[2]  to conduct a contactless transaction in a drugstore back in 2009 and now, with the recent launch of Apple Pay.  

Georgia reaching number one globally by contactless penetration is a success that’s shared with all our partner financial institutions and market stakeholders and I want to thank them all for their trust in Visa and passion towards bringing innovative solutions to Georgian consumers. We are committed to driving innovative payment solutions even further and offer our partners and Visa cardholders the most advanced and secure payment tools and experiences to maintain Georgia’s leadership in cashless payments and further support the country’s digital transformation goals.” – said Cristina Doros, Visa Country Manager for the Caucasus region.

Key milestones of Georgia’s contactless payment journey over the last 10 years[3]:

  • 2009 - Together with Liberty Bank Visa completed the first Visa Contactless transaction in the CISSEE region;
  • 2013 - Jointly with Bank of Georgia, Visa launched contactless acceptance at McDonald’s restaurants across the country;
  • 2013 - TBC Bank initiated a large-scale deployment of contactless POS terminals and issued a series of iconic Visa contactless card designs and stickers. Later, TBC Bank cemented these achievements by enabling the 1st Visa Contactless mobile point-of-sale (mPOS) solution ;
  • 2015 - VTB Bank Georgia launched host card emulation (HCE) technology enabling mobile payment services – to enable payments just by tapping a mobile phone to any contactless POS terminal;
  • 2016 - Together with Bank of Georgia Visa launched Visa Token Services, to accelerate disruptive innovation in eCommerce and mobile payments;
  • 2019 – Georgia became the first country in the Caucasus where Apple Pay was launched.

[1] Source: Visa data, as of November 2019

[2]CISSEE - Commonwealth of Independent States and South Eastern Europe

[3] Visa data, 2009-2019