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Use of internet banking in Georgia growing at fast pace

Finance Materials 9 September 2021 16:43 (UTC +04:00)

BAKU, Azerbaijan, Sept. 9

By Tamilla Mammadova – Trend:

The use of internet banking in Georgia is growing rapidly, Trend reports with reference to the National Bank of Georgia.

According to the National Bank, 8.5 million electronic transactions are made monthly, which means that Georgian banks serve more than 270,000 online transactions a day.

The record volume of online banking was recorded in July 2021, when the value of online transactions reached 548 million lari ($176.5 million) of online transactions. For comparison, this is 53 percent more than in the same period last year.

According to statistics, the average online transaction is 64.8 lari ($20.87).

As for physical transactions, in July, 45 million transactions were carried out in the country through bank cards, totaling 4.13 billion lari ($1.33 billion).

Most of these transactions were carried out through 2,784 ATMs and 84,326 POS-terminals.

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