The partnership between the National Bank of Georgia (NBG) and the Bank of Korea marks an important step forward in strengthening Georgia’s financial system and deepening international cooperation. Within the framework of the agreement signed between the two central banks, a joint project is being implemented to promote the development of cashless (electronic) payments in Georgia.

The project also aims to advance payment systems and enhance consumer participation in electronic payments. Its objectives include identifying legislative and infrastructural barriers, fostering technological innovation in the payments sector, and studying consumer behavior to support the transition to a more digital financial environment.

As part of this cooperation, a delegation from the NBG’s Payment Systems Department, led by the Vice Governor of the National Bank of Georgia, Ekaterine Galdava, visited Seoul at the invitation of the Bank of Korea and the Korea Financial Telecommunications and Clearings Institute (KFTC). The delegation also included the Head of the Payment Systems Department, Natalia Chkhoidze, and other department representatives.

During the visit, the Georgian delegation was introduced to Korea’s extensive experience in developing electronic services, particularly in advancing payment systems, implementing innovative financial technologies, and adopting modern regulatory practices. Meetings were also held with representatives of the Korean Exchange and Korean Credit Information Services.

“The partnership with the Bank of Korea provides a valuable opportunity to learn from advanced international experience and to assess how innovative technologies and modern regulatory approaches can be adapted to Georgia’s financial ecosystem. Our goal is to increase public trust and participation in electronic payments, which is essential for the country’s financial stability,” said Ekaterine Galdava, Vice Governor of the National Bank of Georgia.

In the next phase of the project, a detailed analysis will be conducted, including an assessment of technological and legal aspects. Based on the findings, a set of recommendations will be developed to support the further development of Georgia’s payment ecosystem, enhance consumer engagement, and improve access to financial services.