NBG introduced the financial sector to two significant projects aimed at upgrading the payment infrastructure during a presentation held at the National Bank of Georgia. Attended by commercial banks, Bankers’ Association, and payment service providers, the event featured the Acting Governor of the National Bank of Georgia, Natia Turnava, and Vice Governor Ekaterine Galdava.

The projects involved an update to the existing Real-Time Gross Settlement (RTGS) system and the introduction of a completely new instant payment system. Natalia Chkoidze, Head of the Payment Systems Department, gave a detailed presentation outlining the functionalities, advantages, and benefits of these new systems for commercial banks, fintech companies, and end users.

The updated instant payment system will streamline payment processes, making fund transfers faster and more accessible for recipients. It is expected to drive innovation, enhance competition, and offer users the ability to make payments instantly, at any time, on any day.

"The new payment system will enable users to complete transactions instantly, 24/7," Natia Turnava remarked after the meeting.