PROGRAMMATIC LUNCH NYC

Wallet One Launches Multi-currency eWallet in Georgia

Tim Maytom

wallet oneInternational payments system Wallet One has launched its eWallet solution in Georgia via a franchising model, making the multi-currency digital payments service available through both a mobile app and web interface.

The Wallet one system enables users to pay more than 350 local service providers in Georgia, with adjustable automatic recurring payments, peer-to-peer money transfers and over 100 methods of topping up and withdrawing money supported.

Users can also perform convert operations using the system, changing money from the Georgians Lari to seven other currencies and back. Consumers only need an email address or mobile phone number to register a Wallet One account, making sure there is very little barrier to entry.

"W1 is the first international eWallet fully adapted for Georgian users," said Kakhaber Sakanelashvilli, CEO of Wallet One Georgia. "Given the pace of eCommerce growth in Georgia and the volume of international peer-to-peer money transfers, we believe that W1 wallet may become a daily use tool for many of our citizens."

"Georgia is one of the most attractive markets in the region," said Anna Ivanova, international development director at Wallet One. "It has registered a steady increase of non-cash and internet payments, and mobile penetration has reached 120 per cent in 2014.

"We also see a great potential in international peer-to-peer money transfers between the users in Georgia and other countries where the Wallet One system is already in operation. Further on, we intend to expand our foothold in the region, developing our business in other countries of the Southern Caucasus."