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What has already been officially announced
The National Bank of Georgia (NBG) is preparing an Instant Payments System (IPS) — retail transfers in GEL 24/7/365 with instant crediting of funds. Participants will include banks and non‐bank payment service providers (PSPs); Payments can be initiated via web/mobile banking, QR codes, and other channels. This is directly stated on the NBG project page.
NBG Governor Natia Turnava confirmed the launch of IPS in recent public communications: the system will operate 24/7/365 and provide instant transfers between accounts.
In terms of timing, the NBG previously reported that key payment system projects, including IPS, would become operational in 2026; some publications specified the second half of 2026.
SIBOS context: NBG’s presentations and meetings with SWIFT at the conference focused on the modernization of the payment infrastructure (RTGS upgrade, IPS, integration agenda).
Why it matters: the current bottleneck
Georgia currently has cut‐off times for its settlement infrastructure: the basic “financial day” closes in the evening (6:00—7:00 p.m.), and the system is closed on weekends and holidays. This is why interbank transfers sent after the cut‐off time often “fall” on the next business day. These time frames are officially published by the NBG.
What IPS changes: transfers between banks will not be tied to business days/weekends — money will be credited immediately, at any time. For businesses, this means different SLAs for payments, cash gaps, and working capital.
What this could mean for businesses
- Cash gaps and turnover. Shipments, closing acts, and receiving money no longer “run up against” 6 p.m. and the calendar; there is less need to keep a liquidity buffer “for the weekend.”
- E‐commerce and offline acquiring: an alternative to card rails. IPS implies account‐to‐account payments, including QR. In a number of countries, such solutions compete with the card model in terms of speed and cost; local tariffs in Georgia will depend on banks/PSPs.
- Payout scenarios and marketplaces. Instant payments to partners/drivers/couriers/sellers upon event occurrence (24/7) → higher loyalty and predictability of operations.
- Salary projects. Evening/weekend payments are possible without “freezing” until Monday — convenient for shift schedules and part‐time jobs.
- Reconciliation and data. NBG emphasizes the modernization of the payment infrastructure (including RTGS). In global practice, instant payments go hand in hand with rich payment data (ISO 20022), which simplifies reconciliation in ERP. Details of the formats for IPS will be announced by the NBG in its regulations.
- Fintech ecosystem and open banking. The NBG separately indicated that the IPS project will support the further development of “open banking” and fintech services in the country.
What has not yet been determined and where to expect details
- Tariff model and limits: commission rates and transaction thresholds will be determined by participants/regulators and will be enshrined in the IPS rules, which are being developed by the NBG as the system operator.
- Set of functions at launch: 24/7/365 transfers in GEL and channels (including QR) have been confirmed; additional services (request‐to‐pay, alias payments, etc.) will require a separate publication by the NBG.
What businesses should do now: a short preparation checklist
- Finance/treasury: review payment cut‐off policies, SLAs with counterparties, working capital requests, taking into account 24/7 receipts/debits.
- IT/ERP: set up real‐time payment notifications (via banks/PSPs), automatic payment allocation to accounts, “evening” and “weekend” scenarios.
- Product/sales: test QR/IBAN payment acceptance in channels where cards are not profitable; update the payment UX on the website/in applications.
- Contracts: review agreements with banks/PSPs on IPS connection, SLAs, and tariffs; prepare additional agreements.
- Risks/compliance: configure anti‐fraud rules for an “instant” environment (scoring limits, KYC/KYB processes, alerts).
Frequently asked questions
Will this affect Visa/Mastercard cards?
The NBG has publicly stated that it does not plan to restrict the operation of international card systems; IPS is a parallel track for transfers in lari.
Is this related to SWIFT and sanctions?
In communications surrounding SIBOS, the NBG emphasized the modernization of payment systems; previously, the NBG stated that “there is no reason to disconnect Georgia’s financial system from SWIFT.”
Summary
- Fact: NBG is preparing IPS 24/7/365 with instant crediting in GEL, banks and PSPs are participating, channels will include QR, mobile/web banking.
- Deadline: target date is 2026 (reports mention the second half of 2026).
- Meaning for business: new operational “speed” of money, alternative to acceptance cards, fewer cash gaps, and new 24/7 payment scenarios.
Want to be the first to use IPS and rebuild your payment processes without cut‐offs and weekends?
ESPERO can help you:
- choose a bank/PSP and prepare contracts for IPS;
- configure ERP/CRM for real‐time payments and auto‐reconciliation;
- develop a payment UX (QR/IBAN) in e‐commerce and applications;
- update treasury policies and anti‐fraud settings.
Contact us — we will plan a roadmap for implementation for your business.