The National Bank of Georgia reported that Governor Natia Turnava met in Washington with Mastercard’s regional leadership during the IMF and World Bank Annual Meetings to discuss future areas of cooperation and ongoing joint projects, with an emphasis on payment services, financial inclusion and reforms supporting digital transformation. The discussions highlighted work to strengthen the operational security of card transactions and to enhance strong customer authentication (SCA) for card payments, with system upgrades and new authentication mechanisms underway. The central bank also pointed to banks’ reliance on card schemes for cross-border payments and scheme-provided technologies such as card data tokenization, authentication mechanisms and monitoring tools, and framed Mastercard coordination as increasingly important as new local and international fintech firms enter the market. The release also noted that Turnava’s visit includes scheduled meetings with U.S. investment firms including J.P. Morgan, Citibank and Bank of America.
National Bank of Georgia 2025-10-15
National Bank of Georgia deepens Mastercard cooperation on strong customer authentication and card transaction security
The National Bank of Georgia's Governor Natia Turnava met with Mastercard's regional leadership in Washington to discuss cooperation on payment services, financial inclusion, and digital transformation reforms. Key topics included enhancing card transaction security and strong customer authentication, with system upgrades and new mechanisms in progress. The central bank emphasized the importance of Mastercard coordination amid growing fintech entrants.