Professional Documents
Culture Documents
Order № 29/04
Pursuant to subparagraph “b” of paragraph 1 of article 25, on the Law of Georgia “About
Normative Acts”, subparagraph “g” of paragraph 1of article 15, article 482 of the Organic
Law of Georgia on the “National Bank of Georgia” and paragraph 3 of article 3, article 51,
paragraph 3 of article 13, paragraph 4 of article 15, paragraph 1 of article 21 and article 42
of the Law of Georgia on “Payment System and Payment Service”, I order:
K. Gvenetadze
Rule of Registration and Regulation of Payment Service Provider
Article 2. Definitions
1. The definitions used in this Rule have the following meanings:
A) Low-value payment instrument – a payment instrument, including electronic
money instrument, which satisfies one of the following terms:
a.a) It can be used only to execute individual payment transactions, which do not
exceed 70 GEL or its equivalent in foreign currency,or in relation to payment transactions
executed solely within Georgia by means of this instrument, it should not exceed 140 GEL
or its equivalent in foreign currency;
a.b) Total value of daily payment transactions executed by this instrument does not
exceed 350 GEL or in relation to payment transactions executed solely within Georgia by means
of this instrument, the total value of daily transactions do not exceed 1500 GEL or its
equivalent in foreign currency;
a.c) At any period it is impossible to store electronic money on this instrument, which
exceeds 1500 GEL or its equivalent in foreign currency.