The National Bank of Georgia (NBG) has issued a statement to clarify the ongoing operations of Visa and Mastercard in Georgia, dismissing reports of alleged restrictions as misinformation.

The NBG emphasized that claims suggesting limitations on Visa and Mastercard activities are false and a misinterpretation of facts. The central bank clarified that it is committed to ensuring the safe, stable, and efficient operation of Georgia’s payment system and works actively to develop the national payment infrastructure. This includes collaborating with global technology firms like Visa and Mastercard.

Visa and Mastercard have been operating in Georgia for over 25 years, playing a key role in advancing the country’s payment ecosystem and driving the growth of cashless transactions. The NBG highlighted that these companies continue to innovate in partnership with Georgian authorities, introducing new products like cross-border transfer services.

At the same time, the NBG noted the global shift towards next-generation instant payment systems, which do not rely on physical cards and offer benefits such as lower transaction costs and instant fund availability. Recognizing this trend, the NBG, in partnership with the World Bank, is working on the introduction of an instant payment system in Georgia, slated for launch in the second half of 2026. This system will further support Open Banking services, already offered by fintech companies in Georgia.

The NBG also pointed out that the introduction of non-bank payment service providers and the promotion of Open Banking were part of Georgia’s commitments under its Association Agreement with the European Union, implemented through legislative changes in 2022. The combination of instant payments and Open Banking will provide consumers and businesses with more affordable and tailored financial services, with a particular benefit for small businesses that face high service fees.

The new payment system will comply with international standards and be compatible with the Single Euro Payments Area (SEPA) schemes, facilitating Georgia's future integration into the European payment system.

The NBG reassured that both traditional card payment systems (Visa, Mastercard, American Express) and non-card instant payment systems will continue to operate in Georgia, fostering greater competition and offering consumers a wider range of choices.