National Bank of Georgia Denies Claims of VISA and Mastercard Restrictions: Labels Rumors as Disinformation
The National Bank of Georgia (NBG) has firmly denied widespread rumors suggesting that international payment systems VISA and Mastercard are facing restrictions in Georgia. In an official statement, the NBG categorically called the reports disinformation and clarified that such claims are a misinterpretation of real facts that do not reflect reality.
“Recent information circulated in some media outlets about supposed restrictions on VISA and Mastercard is false and misleading,” the statement reads.
The NBG emphasized its ongoing commitment to ensuring a safe, stable, and efficient payment ecosystem. As part of its statutory function, the bank supports the development of Georgia’s payment system through improving accessibility, encouraging innovation, and fostering a competitive environment.
VISA and Mastercard, which have been operating in Georgia for over 25 years, continue to play a vital role in the evolution of the country's digital payment infrastructure. The two companies are actively involved in launching new financial products, including cross-border transfer tools, and remain critical drivers in the rapid growth of non-cash payments across Georgia.
At the same time, the NBG highlighted its collaboration with the World Bank on developing an Instant Payment System (IPS), which is expected to launch in Georgia in the second half of 2026. This next-generation payment system—already implemented in over 120 countries—functions independently of physical cards and allows faster, more cost-effective transactions, providing immediate fund availability.
“The development of IPS is not a replacement for VISA or Mastercard but rather an enhancement to the overall payment infrastructure. Both card-based and non-card-based systems will continue to operate side by side, increasing competition and offering more choices for consumers,” the NBG clarified.
Additionally, the introduction of IPS supports Georgia’s commitments under its Association Agreement with the European Union, particularly in promoting open banking and fostering the role of non-bank payment service providers. The system will also be compatible with SEPA (Single Euro Payments Area) standards, positioning Georgia for integration with the European payment ecosystem in the future.
The NBG concluded by reiterating that the traditional international card schemes—including VISA, Mastercard, and American Express—will remain fully operational in Georgia alongside newer, innovative systems. Their parallel operation will ensure a more inclusive, efficient, and competitive payments environment, benefitting consumers, businesses, and financial technology innovators alike.
