Georgia prepares to join Single Euro Payments Area - PM

Georgian customers will be able to make cashless Euro payments via credit transfer and direct debit anywhere in the European Union as well as a number of non-EU countries, with the country preparing to join the Single Euro Payments Area, Prime Minister Irakli Garibashvili announced on Monday.

Three bills will be sent today to the Georgian Parliament for approval to reflect related amendments in the legislation, Garibashvili noted, adding “this will be a great benefit for our citizens".

SEPA was introduced for credit transfers in 2008, followed by direct debits in 2009. The system was fully implemented by 2014 in the Euro area and by 2016 in non-Euro area countries that are members of the platform.

It is available in 36 countries that include 27 EU member states plus the United Kingdom, Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra and Vatican City State.