Payment Service Providers

     

    Payment Service Provider

     

    Payment service provider (provider) - a legal entity that provides payment services to a customer of a payment service in accordance with the legislation of Georgia;

     

    The following private companies are entitled to provide payment services in Georgia:

     

    • Commercial banks
    • Microfinance organisations
    • Payment service providers (non-bank) registered at NBG

     

    Registration

    The information to be submitted to the National Bank of Georgia for registration of a payment service provider is defined in the Rule of Registration and regulation of the Payment Service Provider approved under the Decree of the Governor of the National Bank of Georgia No. 29/04 of February 28, 2017. According to subparagraph a, paragraph 1 of article 7 of Law of Georgia on Registration Fees, a registration fee in the amount of GEL 5,000 (five thousand) is set for the registration of a provider.

     

    Forms to be filled out

    Registration Form (Appendix # 1)

    List of payment services to be provided (Appendix # 2)

    Payment receipt

    GEL 5,000 for registration of a payment service provider

    Information on activities

    Schematic description of payment services to be implemented

    Name of the electronic system used, address of the manufacturer's website

    Information (strategy, plan or other), which confirms that the interested entity plans to provide payment services in Georgia

    Legal documentation

    Extract from Registry of entrepreneurs and non-entrepreneurial (non-commercial) legal entities

    Information about direct owners, as well as beneficial owners: copies of identity documents, extract from the registry of entrepreneurs and non-entrepreneurial (non-commercial) legal entities

    Documentation, through which a beneficiary owner may be identified

    Information on the interested partys’ authorized representatives, together with the

    copies of their identity Documents

    Certificate(s) of conviction

    A document certifying the right to use or own the real estate where the provider's head office will be located.