19.Feb .2020 17:38

Visa vs Mastercard - How to the Share is Distributed between the Cards in Georgia

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According to the National Bank of Georgia (NBG), there are 6,065,074 debit and 600,501 credit cards in the circulation. Over 1.75 banking card accounts for per capita.

As of the official statistics, the number of VISA’s credit cards amounts to 1,668,009, whereas MasterCard/Maestro – 4,067,234. The number of other systems’ debit cards is 329,831.

Debit card shares by payment systems are as follows:

Mastercard / Maestro - 67% of the market;

VISA - 28% of the market;

Other systems - 5% of the market.

In terms of credit cards, the market leader is VISA, which holds 43% of the market.
The credit card market among payment systems is divided as follows:

VISA - 43% of the market;

Mastercard / Maestro - 33% of the market;

Other systems - 24% of the market.

More than one million transactions are carried out on a daily basis with these cards and the volume of operations exceed 80 million GEL. For comparison, in January 2016, less than 300,000 GEL was paid by card per day, with these payments amounting to 11 million GEL. Consequently, transactions over the past four years have increased by eight times.

As for the online banking, as of January 2020, over 136,105 transactions are carried out per day, amounting to 280.5 million (9.4) per day.