Economy
Posted: 2 months ago

Georgia's Fintech Market Poised for Rapid Growth, Expected to Exceed $1 Billion in Digital Payments by 2023

According to STATISTA, the fintech market in Georgia is poised to exceed $1 billion in digital payments by 2023, and to reach $2 billion by 2027.

The fintech market includes a variety of services beyond payments, making it challenging to accurately estimate its size.

"The upward trends in internet and technology usage in business activities are vital for the growth of fintech services," noted the BTU study. In 2022, transfers totaling 8.2 billion GEL were recorded in Georgia, representing a surge of nearly 7 billion compared to 2017.