International Transfers in Georgian Lari Are Becoming Extremely Cheaper

International transfers in Lari have become significantly cheaper after the international payment system Paysera has been launched in Georgia.

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Banks are charging high commission fees for international money transfers. Paysera guarantees that international money transfers for its users will not be higher than local ones

Tbilisi, Georgia (PRWEB) June 30, 2014

Georgia has become the 17th state where Paysera users – companies and individuals – can make international money transfers in national currencies and avoid commission fees charged by the commercial banks for international money transfers.

“Banks are charging high commission fees for international money transfers. International transfer fees are GEL 21–40 (EUR 9-17), while the most expensive local money transfer charge is GEL 0,50 GEL (EUR 0,2). Paysera guarantees that international money transfers for its users will not be higher than local ones,” says Andrius Balkunas, the development manager of EVP International, which develops this payment system.

Paysera is an alternative for worldwide known payment systems Paypal and Transferwise being a leader for a variety of functions and customization options. Paysera users can make local and international transfers at local transfer rates, make SMS payments, collect fees, exchange the currency, buy online and make immediate payments when shopping by using QR codes. The system has been developed both for business and individual use.

At the moment international transfers in national currency for the price of local transfers by using Paysera system can be done in 17 countries, and the number of partner countries is growing. Next countries waiting to join are Russia and Belarus.

Paysera helps its clients to make significant savings. It is important for companies which have business with partners from abroad.

A company, which imports used heavy machinery from Germany, with an annual turnover of GEL 24-36M (EUR 10-15M), and which buys for the amount of EUR 7M per year, and conducts 30-40 international transfers per month is saving GEL 9.7K (EUR 4K) on transfers. It saves GEL 4.8K (EUR 2K) on currency exchange per year, which comes to total saving of GEL 14.5K (EUR 6K).

Another example is a real estate management and an agricultural company, which conducts 1000 local transfers, 8 international transfers in euro, buys EUR 1.5m per month, and subscribes 200 audit certificates from the bank per year. The savings of the company reaches up to GEL 39.9K (EUR 16.5K) per year.

One of Paysera’s competitive advantages is the speed. International transfer takes up to three working days, when Paysera system enables to make transfer in 15-30 minutes. Funds can be received during weekends too.

Paysera account can be opened using only Internet access. It can be done by downloading a free mobile app from GooglePlay, Apple Store and Windows Phone Store.

About Paysera:
Paysera is a global payments system, which enables its users to make reasonable savings when making international payments for the price of local rates. Paysera is an electronic payment institution, licensed by the European Union, and is a leader in a global market for its wide range of services such as international transfers at local rates, payments done via the Internet and mobile devices, money transfers by SMS, collect fees, make immediate payments when shopping by using QR codes. Paysera has started to provide its services in Georgia from June 2014.

Currently Paysera has 150 000 users. EUR 318M in 2013 were transferred by using Paysera. Since the system was launched two years ago, 70 banks all over the world have chosen to become partners of the system. Paysera expands its business by creating global solutions for local markets.