The National Bank of Georgia (NBG) and the Bank of Korea have launched a collaborative project under their Knowledge Partnership Program to support the development of cashless payments in Georgia, with the initial phase centred on a targeted initiative to expand cashless settlement. The partnership was formalised through a cooperation agreement signed by NBG Vice Governor Ekaterine Galdava, alongside the start of an in-country visit by a delegation from the Bank of Korea and the Korea Financial Telecommunications and Clearings Institute (KFTC). NBG linked the work to Georgia’s ongoing Real-Time Gross Settlement (RTGS) modernisation and preparations to launch instant payment solutions. The project is intended to draw on Korean experience in payment system modernisation and to focus on technological innovation, analysis of consumer behaviour and infrastructure constraints, and financial inclusion, including outside major centres. During the visit, the delegation is expected to meet banking and fintech associations, commercial banks, payment service providers and fintech companies. Subsequent phases are planned to conduct deeper assessments and develop concrete policy, regulatory and technological recommendations for Georgia’s payments landscape.
National Bank of Georgia 2025-07-15
National Bank of Georgia and the Bank of Korea launch joint project to promote cashless payments in Georgia
The National Bank of Georgia and the Bank of Korea have initiated a project to advance cashless payments in Georgia, linked to Real-Time Gross Settlement modernisation and instant payment solutions. The collaboration will leverage Korean expertise in payment system modernisation, focusing on technological innovation, consumer behaviour, infrastructure constraints, and financial inclusion. The project includes meetings with banking and fintech stakeholders and aims to develop policy, regulatory, and technological recommendations for Georgia's payments landscape.