Payment Processing Services for Georgia

2024. Georgian TBC Bank acquired Ukrainian payment service Fondy



Georgian TBC Bank has received approval from the antimonopoly committee to acquire Ukrainian payment processing service Fondy. TBC Bank is one of the two largest banks in Georgia, accounting for approximately 40% of the sector's assets. Since 2014, the bank's shares have been traded on the London Stock Exchange, and in 2017 they were included in the FTSE 250 index. The bank's market capitalization is £1.4 billion. Fondy is one of the largest operators in the e-commerce payments market, serving approximately 20,000 merchants and offering a wide range of payment solutions for online and offline businesses.


2022. UniPAY - Georgian payment acceptance service



Unipay makes it incredibly easy to receive payments from customers online and on mobile devices. It charges only 2.5% for its services. Payments are accepted via Visa, MasterCard, AM, Apple Pay, and Google Pay. You can accept not only one-time payments but also recurring payments using a customizable subscription template. It's possible to configure how received funds are split between different service providers and organize transaction flows based on your plans and fees. You can create attractive invoices and issue them to customers for payment online or in a mobile app. Various reports allow managers to see comprehensive analytics. A built-in API allows you to integrate payments into your website or corporate accounting system. Ready-made integrations are available with major e-commerce platforms (Wix, Shopify, WooCommerce) and with UniShop.


2022. CityPay.io - cryptocurrency payment service for business



Georgian startup CityPay.io aims to make cryptocurrency payments accessible to any business. The startup has created an omnichannel crypto payment acceptance system that has demonstrated significant success both in Georgia and globally since 2021. The service allows for mass payments from crypto wallets online or by sending a personalized QR code. The developers claim that thanks to security and anonymity, customers spend twice as much in cryptocurrency as with traditional payment instruments. Furthermore, CityPay.io plans to implement cryptocurrency POS payments nationwide, thanks to special POS terminals that will soon be installed in pharmacies in several Georgian cities.

2021. Georgian payment startup PAYZE raised $125K from YCombinator



Online acquiring service PAYZE has become the first startup from the Georgia, Azerbaijan and Armenia region to be accepted into YCombinator, one of the most prestigious startup incubators, and even received investment from it. PAYZE offers a wide range of financial instruments for companies and entrepreneurs wishing to accept online payments. The service launched in January 2021 and has already accepted 250,000 online payments in nine months. It already covers 5% of the e-commerce payments market in Georgia and is growing rapidly. The company also won a grant from the Georgian Innovation and Technology Agency worth 650,000 GEL. PAYZE plans to enter the Ukrainian market next year.


2015. Yandex.Kassa to accept payments in Armenia, Georgia, Moldova and Latvia



Russian online retailers can now accept online payments from customers in Armenia, Georgia, Moldova and Latvia using Yandex.Checkout, the payment solution from Yandex.Money. The new payment method will allow customers in these countries to pay for orders in cash at local terminals and bank branches. To pay for an online purchase, customers must provide a mobile phone number and email address, which will receive a text message containing a payment code. Customers simply enter the code at the terminal and deposit cash. They will then receive a payment confirmation email. Online stores can also set up other payment methods, such as e-wallets and bank cards.