Home News & events Press Releases 2008 Compass Plus helps People's Bank of Georgia introduce state-of-the-art technologies


libertybankCompass Plus helps People’s Bank of Georgia introduce state-of-the-art banking technologies.

The People’s Bank of Georgia is one of the first Banks to launch P2P card transfers in the Transcaucasia region. This technology makes it possible to carry out money transfers from one VISA card to another conveniently and securely whilst avoiding a trip to the bank. The new service will be operative twenty-four hours a day in all People’s Bank of Georgia ATMs (over 120). The functional possibilities of the Bank’s processing centre, built on TranzWare products, lay at the root of the new service.

General Director of People’s Bank, Georgiy Goguadze made the following comments about the new service: "The introduction of innovative solutions is not an achievement for the Bank alone; it serves to promote the profile of the country as a whole. Technological advancement in any company is represented as a positive development trend for any country. In terms of the new product, clients of People’s Bank can transfer money whenever they want, even on a Sunday and outside of working hours. Many months of work went into the launch of the new product which made P2P card transfers accessible to the Georgian consumer. This is a service that already enjoys popularity amongst European countries and I think that it will be useful since it can be used in any force-majeure situation".

In response Andrew Chirkov, Commercial Director of Compass Plus, made these comments on the collaboration: “People’s Bank of Georgia is a forerunner in the Georgian plastic cards industry. As a Bank it continues to actively enlarge its plastic card issuance and support network and simultaneously realizes promising and innovative projects. We are proud of the fact that our solutions give limitless possibilities and contribute to the growth of the bank".

People’s Bank of Georgia strives to be the most pioneering Bank in Georgia. To this end Compass Plus contributes to the successful collaboration as a reliable partner and developer of innovative technologies. The People’s Bank of Georgia is the largest issuer of bank cards in Georgia (approximately 45% of total bank cards issued in Georgia) and has Principal Member status in the VISA international payment system. The Bank also has the widest branch network in Georgia (180 branches) and is an authorized bank on state social program implementation (delivery of pensions, grants, etc.).

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