Fintech & digital payments rules in Georgia (2026)

Under the Law on Payment Systems and Payment Services, only commercial banks, microfinance organisations, and NBG-registered non-banking PSPs (must be incorporated as an LLC or JSC) may provide payment services. Permitted activities include payment card issuance/acquiring, e-money issuance via mobile/internet, payment initiation, and account information services. No separate e-money institution (EMI) licence category exists; e-money issuance is covered under the standard PSP registration.

Open Banking rules are set out in NBG Order No. 80/04 ('On Approval of the Rule on Inclusion in Open Banking'). The framework mandates that licensed banks and eligible PSPs expose standardised APIs for account data sharing and payment initiation. As of 2023, the NBG extended Open Banking participation to non-banking institutions. As of April 2025, four entities were registered as Payment Initiation Service Providers (PISPs) with five more applications pending.

The NBG approved a dedicated Regulation on Capital Adequacy Requirements for Payment Service Providers, which entered into force on 1 January 2024. PSPs must maintain minimum authorised capital throughout their operational period and submit monthly, quarterly, and annual compliance reports to the NBG.

The NBG is developing a national Instant Payment System offering 24/7/365 GEL-denominated retail payments with immediate settlement. Public and business rollout is targeted for Q4 2026. The system is designed to be open to both commercial banks and non-bank PSPs, supporting further development of the open banking ecosystem.

The NBG published an updated National Fintech Development Strategy (2025 edition) focusing on proactive regulatory policy, early-stage technology experimentation (including a digital sandbox for synthetic data access), and international cooperation. The NBG's Regulatory Sandbox allows regulated and non-regulated entities to test innovations including equity crowdfunding and open finance services.

No specific Buy Now Pay Later (BNPL) regulatory framework has been identified in Georgia. BNPL providers operating in Georgia are subject to general PSP registration requirements and consumer credit rules under the existing Law on Payment Systems and Payment Services and related NBG regulations, with no standalone BNPL licence or supervisory framework in place as of 2026.