Regulatory AlertsGeorgia: fintech & payments regulation
RegulatedPSPs registered with NBG under 2021 Law; Sandbox active; No specific e-money license
- Lead regulator
- National Bank of Georgia
- Also involved
- Revenue Service (tax) · National Bank of Georgia (AML/CFT supervision)
- Core law
- Law of Georgia on Payment Systems and Payment Services (2021)
- Entry capital
- GEL 50,000 (Payment Service Provider)
- Approval timeline
- 1-3 months for registration
- Customer assets
- Segregated accounts required; no specific e-money fund mandate
- Data protection
- Law on Personal Data Protection · National Personal Data Protection Service
- Sandbox
- Yes - NBG Regulatory Sandbox
Georgia regulates payment services via a registration-based regime under the National Bank of Georgia (NBG). The 2021 Law consolidated oversight, requiring Payment Service Providers (PSPs) to register rather than obtain a full banking license. The NBG operates a regulatory sandbox for innovative products. E-money is not separately licensed; it falls under PSP registration.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Service Provider Registration[1][2] Registration required for payment processing services | GEL 50,000 | 1-3 months | National Bank of Georgia |
| E-money & wallet issuance | LicencePayment Service Provider Registration[1] E-money issuance treated as payment service; no separate license | GEL 50,000 | 1-3 months | National Bank of Georgia |
| Domestic money transfer | LicencePayment Service Provider Registration[1] Domestic transfers covered under PSP registration | GEL 50,000 | 1-3 months | National Bank of Georgia |
| Cross-border remittance | LicencePayment Service Provider Registration[1] Cross-border remittance requires PSP registration | GEL 50,000 | 1-3 months | National Bank of Georgia |
| Agent network | LicencePayment Service Provider Registration[1] Agent networks must be registered under the PSP framework | GEL 50,000 | 1-3 months | National Bank of Georgia |
| Open banking / account information | Uncertainverify with regulator No specific open banking framework identified | — | — | — |
| Foreign-exchange services | LicencePayment Service Provider Registration[1] FX services for payments require PSP registration | GEL 50,000 | 1-3 months | National Bank of Georgia |
New — what changed recently
- 2025-05NBG Regulatory Sandbox Framework — NBG approved Order No. 125/04 establishing a formal sandbox for testing innovative financial services conflicting with existing rules.[3]
- 2023-05Rule of Registration And Regulation of the Payment Service Provider — NBG issued Order № 29/04 updating registration procedures and obligations for PSPs under the 2021 Law.[1]
Market-entry checklist
- 1Register as PSP with NBGSubmit application under Order № 29/04 with GEL 50,000 capital proof.
- 2Implement SCA ComplianceAdopt Strong Customer Authentication per NBG Order No. 156/04.
- 3Establish Segregated AccountsSet up dedicated client fund accounts as required by PSP rules.
- 4Register for AML/CFTComply with National Bank of Georgia AML supervision requirements.
- 5Apply for Sandbox (Optional)Use NBG Sandbox for testing innovative products under Order No. 125/04.