The Amount of the Payment Cards Produced in Georgia has Decreased

The Amount of the Payment Cards Produced in Georgia has Decreased

Production of the credit cards has reduced for the first time in the last couple of years.

In Georgia, the amount of the credit cards produced by the commercial banks has decreased. According to the National Bank data, the amount of credit cards produced in the IV quarter of the last year, has been reduced by an annual 18%, and quarterly 2% and reached 7.4 Million.

The significant part of the produced cards comes to the Master Card, – with 56% of the total amount, which is followed by Visa (26%) and Local (9%). 8% of the entire quantity comes to the UPI whereas the rest 1% comes to the AmEx.

In the accounting period, the indicator of producing both debit and credit cards has also decreased. In total, the production of credit cards has been reduced by 3% for the year, whereas the sum of the produced debit cards has lowered by 19%. It should be noted, that this occurrence is first in the last 3 years.

In total, there were 242 Million operations executed using Georgian cards in 2018, which equals 23.6 Million GEL. From here, 72% of the total amount and 29% of the entire sum, has been performed through the terminals in the trading service objects. The rest (28% and 71% accordingly) is the cash withdrawal from ATMs and the provider terminals.

In comparison to the last year’s (2017) fourth quarter, the amount of the payment operations in trading service objects has gone up with 51% in quantity and with 61% in sum. Regarding the cash withdrawal, it has increased by 9% in quantity and by 11% in volume.

The traditionally growing tendency of internet payments remains. In the IV quarter, there were 14 Million internet payment operations performed using Georgian cards; which equals 857 Million GEL. 

In comparison to the 2017 IV quarter internet-payments, the amount has grown by 144% in quantity and by 161% in volume.

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