Third Party Processor, JSC Georgian Card, subsidiary of JSC Bank of Georgia, in cooperation with Thales Group has issued the first Georgian local contactless chip card based on EMV standards and PURE white label technology.
Issuing local chip cards with contactless technology was one of strategic plans by Georgian Card for this year. Contactless will significantly facilitate the development of non-cash payments and reduce the demand for cash in Georgia, which will help local payment service providers to offer even more secure and simple method of payment for their customers. The product is based on the PURE white label technology, which meets the high security standards also required for cards issued by international payment systems.
“We are pleased to have the opportunity to introduce another innovative product that will significantly contribute to the development of cashless payments across the country. The main goal of the product is to make a secure tool equipped with the international chip payment standards available to various financial institutions, such as banks operating in Georgia, payment service providers regulated by the National Bank of Georgia. We believe that the new product will lead to significant changes, which will have a positive impact on the country’s economy” – said David Bezhiashvili, Georgian Card CEO
We would like to remind you that the issuance of local cards in Georgia with magnetic stripe technology started in the early 2000s for small-scale projects aimed at creating local payment solutions. By August 2020, the company has issued more than 250,000 local cards in cooperation with payment service vendors regulated by the National Bank of Georgia.
In September 2020, the company launched the very first local card equipped with EMV contactless technology together with Neollet, one of the leading payment service providers in Georgia.
Georgian Card is actively working on the development of a new local payment card and in the near future intends to offer additional services to its partner companies.