Paysera bank has opened its doors in Georgia

PRNewswireDecember 18, 20234 min

Paysera Georgia, a member of the Paysera Group, has commenced operations with the opening of its inaugural bank branch in Tbilisi. Having obtained a banking license in Georgia last year, the company is poised to provide a diverse range of financial services to the local community.

Marijus PlanńćiŇęnas, the CEO of Paysera LT, expressed enthusiasm about the strategic move, stating, “One of the key advantages offered by Paysera is instant SEPA transfers, particularly beneficial for¬†Georgia, a non-SEPA member. This signifies a transformative shift for Georgians, enabling them to conduct European transactions swiftly and seamlessly. Furthermore, the expansion of Paysera creates new avenues for business development, fortifying the longstanding ties between¬†Lithuania¬†and¬†Georgia.”

The physical expansion of the Paysera Group into various countries is facilitated by a collaborative joint activities model. This model was successfully implemented in¬†Georgia, where local entrepreneurs, holding 100% of the bank’s shares, introduced the Paysera brand and technology. Dimitry Kumsishvily, a prominent businessman, serves as one the shareholders and director.

Dimitry Kumsishvily stated, “Paysera Bank Georgia obtained its license as the first digital bank in the Georgian market on¬†November 17, 2023, and has promptly initiated services for both individuals and legal entities. Through our commitment to innovative business models and collaboration with the National Bank of¬†Georgia, Paysera Bank has seamlessly integrated Georgian clients into the SEPA system, enabling Euro transactions with the same ease as transactions in Georgian Lari (GEL). This not only enhances financial accessibility but also aligns our country with the European family.”

In light of¬†Georgia¬†achieving candidate status for the European Union on¬†December 14, Paysera Bank Georgia announced a special promotion for its clients. Over the next three months, Euro transfers to¬†Europe¬†will be offered completely free of charge, showcasing the company’s dedication to fostering financial inclusivity and reinforcing¬†Georgia’s¬†ties with the European Union.

In mid-December, the Central Bank of Georgia augmented the bank license held by Paysera Georgia, granting the institution the opportunity to provide loans in the future.

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