VILNIUS, Lithuania, November 24, 2022 /PRNewswire/ — The Paysera network of financial technology companies is expanding to Georgia, where the first Paysera bank will open its doors. ON November 17, 2022the National Bank of Georgia granted “Paysera Georgia” company its 15th Commercial Banking License and its 1st Digital Banking License.
There will be two customer service centers in the country’s capital, Tbilisi, with most services provided remotely. The bank will support SEPA and SEPA Instant payments, which means a large number of transfers from Georgia to Europe it will reach the recipients in seconds. The bank will start providing customer services in early 2023.
Gintautas Mezetis, CEO of Paysera LT, says:
“The benter Georgia marks a new stage in our determined development. It is the first bank in our network, so we are eager to start operations in a country that ranks very high in the “Doing Business” ranking of best trading conditions. In Georgiawe will witness how the fintech technologies that have been tested in Europe and used by millions of people, are applied in the traditional banking sector. We are delighted to embark on this journey with experienced local entrepreneurs who best understand the needs of the local people.”
The Paysera brand and technology will be presented Georgia by local entrepreneurs. One of them is Dimitry Kumsishvili, businessman and business angel, former Minister of Finance and Economy and former Deputy Prime Minister of 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 Paysera Bank Georgia the first ever digital banking license. In this regard, having a member with a banking license benefits the Paysera network and greatly increases the capabilities of the entire group as well as Paysera’s valuation.“
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 acts as a link between the EU financial system and those countries that need access to it. Meanwhile, it is worth mentioning that the banking system in Georgia is highly developed 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 story of Paysera started in 2004 a Vilnius, Lithuaniawhen three friends – Kostas Noreika, Audrius Lučiūnas and Šarūnas Broga – started developing a platform for online payment collection. Over time, the service portfolio has grown and Paysera has evolved into an international network of fintech companies, uniting companies in 9 countries – Lithuania, Latvia, Estonia, Bulgaria, Romania, Ukraine, Albania, Kosovoand, henceforth, Georgia.
In its homeland, the company holds a special place in the history of fintech. Historically, Paysera was the first Electronic Money Institution (EMI) in Lithuania. The company was the first to enter Lithuania to offer customers the ability to open an account remotely, the first to offer payments by scanning a QR code and, in 2020, the first fintech company to allow in-app purchases of gold bars and coins with the ability to pick them up in person.
Paysera’s network of companies is expanding geographically on a franchise-like joint venture concept, connecting companies from different countries to the network, founded and managed by experienced local entrepreneurs.
Paysera is a fintech company that provides fast, convenient and affordable financial and related services globally. We offer products ranging from an e-shop payment gateway to money transfers, currency conversion, payment cards, an event ticketing platform, a parcel locker network (to be launched), and a financial management app top notch. Starting our journey in 2004 in Vilnius, Lithuaniawe are the first electronic money institution (EMI) authorized in Lithuania, with 300 people working in 15 different cities around the world. With over a million apps installed and growing, we aim to push the envelope and become an industry leading super app providing financial and lifestyle services worldwide.