Georgia leads in contactless payments penetration - MasterCard

Business Materials 15 January 2021 14:08 (UTC +04:00)
Georgia leads in contactless payments penetration - MasterCard

BAKU, Azerbaijan, Jan. 15

By Tamilla Mammadova – Trend:

Georgia is an innovative country, and it’s moving towards a world without cash at a steady pace, Igor Stepanov, Regional Director of MasterCard in Georgia and Central Asia told Trend.

"Over the last 3-4 years both, the number and volume of POS transactions, has grown considerably in Georgia, he said.

As Stepanov noted, according to the National Bank of Georgia, non-cash payments increased by 20 percent over a year.

"As for the contactless payment’s penetration, Georgia today is among the leaders in the region, almost every second transaction here made with a payment card is contactless. Online commerce is developing rapidly, the number of online payments has grown by 41 percent," he said.

According to him, all these wins represent the evidence of massive progress in cashless economic development in Georgia.

"Recently, companies, as well as customers have acknowledged the importance of adaptation to the digital era. Mastercard has successfully managed to develop effective digital tools that meet the differing needs of the countries, where we operate," Stepanov added

As he said, with endless digital possibilities, banks currently have an opportunity to differentiate themselves in a crowded market.


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