Paysera becomes a bank in Georgia: Central Bank grants license

Vilnius, Lithuania, November 24, 2022 /PRNewswire/ — The Paysera network of financial technology companies is expanding Georgia, where the first Paysera bank will open its doors. On November 17, 2022the National Bank of Georgia granted Paysera Georgia its 15th commercial banking license and its first digital banking license.

There will be two customer service centers in the country’s capital, Tbilisi, with most services being provided remotely. The bank will support SEPA and SEPA Instant payments, which means a large number of transfers Georgia to Europe will reach the recipients in seconds. The bank will start providing services to customers in early 2023.

Gintautas Mezetis, CEO of Paysera LT says:

“That Bcheck in Georgia marks a new phase in our purposeful development. It’s the first bank in our network, so we aim to operate in a country that ranks very high in the Doing Business ranking for best business conditions. in the Georgiawe witness fintech technologies being tested Europe and used by millions of people, are applied in traditional banking. We are excited to be walking this path with experienced local entrepreneurs who best understand the needs of local people.”

The Paysera brand and technology are introduced Georgia from local entrepreneurs. One of them is Dimitry Kumsishvili, a businessman and business angel, former Minister of Finance and Economy and former Deputy Prime Minister Georgia.

Dimitry Kumsishvili, co-owner and CEO of Paysera Georgia says:

The National Bank of Georgia highlighted the sustainability of Paysera’s business model by granting the first-ever digital banking license to Paysera Bank Georgia. In this regard, the Paysera network benefits from having a member with a banking license and significantly increases the capabilities of the entire group, as well as Paysera’s rating.

According to D. Kumsishvili, the bank’s business model is based on integration with the EU financial system and includes but is not limited to providing innovative products to its customers.

“Paysera serves as a link between the EU financial system and the countries that need access to it. Meanwhile, it is worth noting that the banking system in Georgia is sophisticated and competitive, and even in this competitive market I have no doubt that Paysera Bank Georgia will occupy an important place,” added D. Kumsishvili.

The history of Paysera began in 2004 in Vilnius, Lithuaniawhen three friends Kostas Noreika, Audrius Lučiūnas and Šarūnas Broga – started developing a platform for online payment collection. Over time, the service portfolio grew and Paysera has grown into an international network of fintech companies, uniting companies in 9 countries – Lithuania, Latvia, Estonia, Bulgaria, Romania, Ukraine, Albania, Kosovoand from now on Georgia.

In its home country, the company holds a special place in fintech history. Historically, Paysera was the first Electronic Money Institution (EMI) in Lithuania. The company was the first in Lithuania to offer customers the ability to open an account remotely, the first company to offer payments by scanning a QR code, and in 2020 the first fintech company to offer in-app purchases of gold bars and coins the possibility of collection allows person.

Paysera’s business network is expanding geographically according to a franchise-like joint venture concept that connects companies from different countries to the network established and managed by experienced local entrepreneurs.

About Paysera

Paysera is a fintech company providing fast, convenient and affordable financial and related services worldwide. We offer products ranging from a payment gateway for e-shops to money transfers, currency conversion, payment cards, an event ticketing platform, a parcel locker network (in the pipeline) and a top-of-the-line financial management app. Beginning of our journey in 2004 in Vilnius, Lithuaniawe are the first licensed Electronic Money Institution (EMI) in Lithuania, with 300 employees in 15 different cities worldwide. With over a million app installs and counting, we aim to push the boundaries and become an industry-leading super app, offering financial and lifestyle services around the world.

Logo: https://mma.prnewswire.com/media/1955073/Paysera_Logo.jpg

SOURCE Paysera

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