Nov. 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, 2022, the National Bank of
Georgia granted the company
'Paysera Georgia' its 15th commercial bank licence and its first
digital bank licence.
There will be two customer service centres 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 will reach the recipients in seconds.
The bank will start providing services to clients at the beginning
Gintautas Mezetis, CEO of Paysera LT, says:
"The Bank in Georgia marks a
new phase of 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 the best
business conditions. In Georgia,
we will witness how fintech technologies that have been tested in
Europe and used by millions of
people, are being applied in traditional banking. We are delighted
to be taking this path with experienced local entrepreneurs who
best understand the needs of local people."
The Paysera brand and technology will be introduced to
Georgia by local entrepreneurs.
One of them is Dimitry Kumsishvili, a businessman and business
angel, former minister of finance and economy, and former vice
prime minister of Georgia.
Dimitry Kumsishvili, co-owner and CEO of Paysera Georgia,
"The National Bank of Georgia
highlighted the sustainability of the Paysera business model by
granting Paysera Bank Georgia the first-ever digital banking
licence. In this connection, having a member with a banking licence
benefits the Paysera network and significantly increases the
capabilities of the entire group, as well as the valuation of
According to D. Kumsishvili, the business model of the bank is
based on integration with the EU financial system and includes, but
is not limited to, providing innovative products to its
"Paysera serves as a connecting link between the EU financial
system and those countries who have a need for 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 take an important place," added D.
Paysera's story began in 2004 in Vilnius, Lithuania, when three friends –
Kostas Noreika, Audrius Lučiūnas,
and Šarūnas Broga – began to develop a platform for online payment
collection. Over time, the portfolio of services grew and Paysera
has evolved into an international network of fintech companies,
which unites companies in 9 countries – Lithuania, Latvia, Estonia, Bulgaria, Romania, Ukraine, Albania, Kosovo, and, from now on, Georgia.
In its homeland, 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 provide clients with the
possibility 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
possibility to collect them 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 a payment gateway for e-shops to money
transfers, currency conversion, payment cards, an event ticketing
platform, a parcel locker network (to be launched), and a top-notch
finance management app. Beginning our journey in 2004 in
Vilnius, Lithuania, we are the
first licensed e-money institution (EMI) in Lithuania, with 300 people working in 15
different cities worldwide. With over one million app installs and
growing, we aim to push the boundaries and become an
industry-leading super app that provides financial and lifestyle
services across the globe.