Monetopay is now a registered payment service provider with the National Bank of Georgia. What the PSP licence covers, and what it means for businesses.
The National Bank of Georgia keeps a public register of every company licensed to move money in the country. As of this month, our name is on it.
Monetopay is now a registered payment service provider. That is not a slogan. It is a regulated status, granted by Georgia's central bank, that lets us legally handle other people's money inside a supervised framework.
Most companies that need to move funds do one of two things:
They rent infrastructure from someone who already holds the license.
Or they wait years and apply for a full banking charter.
We did the third thing: We obtained the license itself.
For years, the team behind Monetopay worked alongside entrepreneurs, fintech companies, marketplaces, and international businesses entering Georgia.
Again and again, we saw the same challenge.
Building a company was relatively straightforward.
Building payment infrastructure was not.
During that time, one challenge kept appearing.
Businesses needed better financial infrastructure.
Founders could establish a company in Georgia in days. They could access a competitive tax environment and a growing economy. But when it came to payments, wallets, collections, payouts, and financial operations, the available options were often fragmented, expensive, or dependent on providers outside the region.
That challenge led us to build Monetopay.
Today, we are proud to share an important milestone.
Monetopay is now officially registered as a Payment Service Provider (PSP) with the National Bank of Georgia.
This is not simply a licensing achievement. It represents years of work and gives Monetopay the regulatory foundation to build payment products inside Georgia's financial ecosystem.
A Payment Service Provider license allows a company to provide regulated payment services under Georgian law.
The license comes from Georgia's central bank and monetary authority, the same institution that supervises the banks.
When the National Bank approves a payment service provider, it publishes the decision on its own website within two working days. The register is public.
A licensed PSP becomes part of Georgia's regulated financial ecosystem and must comply with ongoing requirements relating to governance, compliance, reporting, security, anti-money laundering controls, and operational oversight.
In practical terms, Monetopay can now provide regulated payment services that many businesses rely on every day.
These include:
For businesses operating across multiple markets, these services form the backbone of day-to-day financial operations.
The financial sector is one of the most heavily regulated industries in any country.
Obtaining a PSP license is intentionally difficult.
The National Bank of Georgia reviews every application in detail. Ownership structures, shareholders, compliance procedures, security frameworks, operational systems, risk controls, and governance processes all undergo regulatory scrutiny before approval is granted.
The process is designed to ensure that only companies capable of meeting these standards are allowed to provide regulated payment services.
That level of oversight is important.
Businesses moving money need confidence that the provider handling those transactions operates within a supervised framework.
For Monetopay, obtaining the license means meeting those requirements and becoming part of a regulated system that prioritizes security, transparency, and accountability.
| What you need | Payment service provider (Monetopay) | A Georgian bank account |
|---|---|---|
| Move and hold fiat funds for others | Yes: core authorised activity | Holds your own funds, not a service to third parties |
| Issue payment instruments and e-money | Yes: cards, wallets, electronic money | No |
| Handle cryptocurrency | No: fiat only | No |
| Regulated by | National Bank of Georgia | National Bank of Georgia |
| Best suited for | Businesses building payment, payout, or wallet products | A single company running its own day-to-day banking |
The license maps to a specific list of payment services defined in Article 13 of the law. As a registered payment service provider, Monetopay is authorised to perform the following.
It means Monetopay can sit at the centre of a payment flow, collecting, holding, converting, and disbursing funds, rather than depending on a third party to do the regulated parts.
Payments are one of those things most people never think about until they stop working.
Simple on the surface.
In reality, an enormous amount of infrastructure sits behind every transaction.
For years, we watched businesses struggle with that reality.
Founders could launch products, acquire customers, and scale internationally. Yet when it came to payments, they often found themselves piecing together multiple providers, multiple integrations, and multiple jurisdictions just to create a functioning payment flow.
The problem became even more visible as fintech, e-commerce, SaaS, and marketplace businesses continued to grow. Modern companies do not simply need a bank account, they need payment infrastructure.
They need ways to collect funds, manage balances, distribute payouts, support digital wallets, and move money efficiently between users, partners, suppliers, and customers.
That is the gap Monetopay was created to fill.
We built Monetopay because we believe businesses should be able to focus on building products, growing revenue, and serving customers, not spending months navigating the complexity of payment infrastructure.
Georgia has spent years building one of the most business-friendly environments in the region.
The country combines:
The financial sector has also evolved significantly.
Georgia's payment regulations are aligned with European standards and have created a framework that supports innovation while maintaining strong regulatory oversight.
The National Bank of Georgia has continued modernizing the country's financial infrastructure, creating an environment where payment companies can build with confidence.
For businesses operating internationally, these developments matter.
They create stability, predictability, and long-term opportunities.
For many businesses, regulatory announcements can feel distant from day-to-day operations.
This one has practical implications.
Companies increasingly need infrastructure that supports:
Whether you're running a SaaS company, an e-commerce platform, a marketplace, or an international business with operations in multiple countries, payments are a critical part of growth.
The ability to access regulated financial services through a locally licensed provider creates new opportunities for businesses operating in and around Georgia.
As Monetopay develops new products and capabilities, businesses will gain access to additional financial tools built specifically for modern international operations.
Monetopay was built to help businesses move money more effectively, whether that means processing payments, supporting wallet solutions, enabling payouts, facilitating money transfers, or building entirely new financial products on top of regulated infrastructure.
At its core, Monetopay exists for a simple reason:
Moving money should not be the hardest part of building a business.
Obtaining a PSP license is an important milestone. But it is not the final destination.
It is the foundation.
The license creates the regulatory framework needed to develop new financial products, payment solutions, and infrastructure for businesses operating in Georgia and beyond.
We believe Georgia will continue strengthening its position as a destination for entrepreneurs, technology companies, and international investors.
We also believe modern financial infrastructure will play a central role in that growth.
Monetopay is now part of that story. And as we look ahead, we are excited about what comes next.
For the businesses we support, for Georgia's growing business ecosystem, and for the future of financial services in the region.
It means monetopay is registered with the National Bank of Georgia and authorised to provide regulated payment services under Georgian law. The status is published on the National Bank's public register, so it can be verified independently rather than taken on trust.
In practical terms, monetopay can legally move and hold funds for others, issue payment instruments and electronic money, and run payment services, while meeting ongoing requirements for governance, compliance, security, and reporting.
The licence was granted by the National Bank of Georgia, the country's central bank and monetary authority. It is the same institution that supervises Georgia's commercial banks.
When the National Bank approves a payment service provider, it publishes the decision on its own website within two working days and lists the provider on a public register.
No. Both are regulated by the National Bank of Georgia, but they do different jobs. A bank account is built to hold and move a company's own money, while a payment service provider is authorised to move and hold money for others, issue payment instruments, and issue electronic money.
A PSP licence is also not a banking charter, and it covers fiat money only. It does not authorise handling cryptocurrency. For a business whose product depends on moving money, a licensed PSP is often a more direct fit than a bank account alone.
The licence maps to the regulated activities defined in Georgia's payment-services law: debiting and crediting accounts, processing payments by card, direct debit, or credit transfer, issuing and acquiring payment instruments, issuing electronic money, money remittance, and payment initiation.
Together, these cover the core of almost any payment flow, so monetopay can collect, hold, convert, and disburse funds end to end rather than relying on a third party for the regulated steps.
Many companies that need to move money operate under someone else's licence, building on a provider that holds the regulated status and inheriting that provider's limits and economics. It is faster to start, but the regulated core belongs to a third party.
Monetopay holds the licence directly, so the authorised activities (moving funds, issuing instruments and e-money, running payment services) are ours to operate and build on. That gives the businesses we serve a more stable, accountable foundation over the long term.
Payment infrastructure team at Moneto LLC, Tbilisi
monetopay is operated by Moneto LLC, a payment service provider registered with the National Bank of Georgia (reg. № 0107-7704).
Reach the team directly. We usually reply same-day.
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