The FINANCIAL — During the first six months of 2012 Georgians abroad have used their credit and debit cards 976,368 times, spending GEL 134,563,000 on purchases and withdrawing GEL 95,953,000 from cash machines overall.
The FINANCIAL — During the first six months of 2012 Georgians abroad have used their credit and debit cards 976,368 times, spending GEL 134,563,000 on purchases and withdrawing GEL 95,953,000 from cash machines overall.
The total number of transactions made by Georgian residents via plastic cards abroad rose by 20% during the first half of 2012 compared to the corresponding period of 2011.
The total value of transactions for the period amounted to GEL 230,516,000. The figures show that more than 50% of residents prefer POS terminal transactions to ATM withdrawals. The reason for it is that cardholders are charged a lesser percentage while paying via POS terminals than ATM withdrawals.
757,830 units was the number of transactions carried out in the first half of 2011. The value of those transactions reached GEL 194,985,000. Last year’s figures also showed that more than 60% of residents used POS terminals. GEL 113,260,000 vs GEL 81,724,000.
The total value of card transactions within the Georgian economy by residents was GEL 4,062,514 thousand during the six months of the current year; the number of transactions reached 32,108,483 units. GEL 488,019 thousand is the increased number of the value of transactions compared to the corresponding period of 2011. From January to July 2011 the number of transactions was 26,532,630. The figure is presently 5.5 million more.
The number of POS terminals in merchant and service outlets in Georgia is nine times more than the number of ATMs. There are 9,906 POS terminals in merchant and service outlets, while the number of ATMs amounts to 1,766. This year the number of POS terminals is 3,500 units more than it was in 2010. The present number of ATMs at present – 1,766 – is 278 units more than it was in the previous year and 340 units more than in 2010.
The total number of bank debit cards in circulation is 3,729,702 as of July 2012. The number has increased by more than 600,000 in comparison with the same period of last year. The number of bank credit cards in circulation is 644,022 as of July 2012. In July of last year the number of credit cards was 100,000 less than it is now.
TBC Bank offers classic cards specifically for consumers travelling internationally. “The cost of the card is USD 15, minimum deposit is USD 20. For cash withdrawals from ATMs cardholders will be charged 2%, USD 3 or EUR 3. During payment via POS terminals customers will not be charged at all,” representatives of TBC Bank stated.
Visa or MasterCard cost GEL 10 annually at Bank of Georgia. AmEx will charge you GEL 40 annually. A cash withdrawal from an ATM is a minimum EUR 2.9 or USD 3.9 charge. POS terminals charge zero percent commission.
“Since Bank of Georgia cares about the security of its customers’ funds, we offer the chance to activate a plastic card fraud reimbursement package and secure funds of up to GEL 5,000 for a small annual fee of GEL 10. We have two suitable compensation packages: Standard and Standard +,” said Sophie Balavadze, the Brand’s PR Unit Head at Bank of Georgia.
Representatives of Bank Republic, SocGen Group, name their Visa Gold card as the best option for overseas travellers. The monthly cost of the card is GEL 12. The POS terminal charge is zero percent. However, if the account is in the national currency then customers will be charged for the conversion.
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