Georgia Receives its First International E-Wallet

Georgia has become first country in the South Caucasus where the Wallet One (W1) international payment system has launched its multi-currency e-wallet via franchising model.

The product is available on web interface and mobile applications for both iOS and Android. It provides country-adapted interface, meets all requirements of the national regulations, and supports all key features of the W1 international payment system.

Via the e-wallet, Georgian users can pay more than 350 local service providers, adjust automatic recurring payments and provide p2p money transfers to friends and family. The product supports over 100 methods of topping-up the wallet and money withdrawal. The users can also use the wallet to convert Georgian lari to seven other currencies. Users can register an e-wallet account by simply submitting an e-mail address or mobile phone number.

“W1 is the first international e-wallet fully adapted for Georgian users,” said Kakhaber Sakanelashvili, CEO of Wallet One Georgia. “Given the pace of e-commerce growth in Georgia and the volume of international p2p money transfers, we believe that W1 wallet may become a daily use tool for many of our citizens.”

Anna Ivanova, international development director for Wallet One, added that Georgia has registered a steady increase of non-cash and internet payments, with mobile penetration reaching 120% in 2014. “We also see a great potential in international p2p money transfers between the users in Georgia and other countries where Wallet One system is already in operation,” she said. “Further on, we intend to expand our foothold in the region, developing our business in other countries of the Southern Caucasus.”

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