The National Bank of Georgia and the Korea Financial Telecommunications and Clearings Institute on Saturday signed a memorandum for promoting cooperation to strengthen the payments infrastructure in Georgia.
The Bank said the parties would collaborate to enhance the domestic infrastructure for fast payments, open banking and electronic Know-Your-Customer system and establish a specialised organisation for retail payments.
They will also work together on implementing “further projects based on long-term mutual cooperation”.
The document was signed by Natia Turnava, the Acting Governor of the National Bank and Jong Seok Park, the CEO of the Korean Institution.