The National Bank of Georgia has announced stricter rules for the provision of payment services, with an emphasis on protecting citizens over 60. The regulator is updating the requirements for strong authentication and strengthening control over transactions to reduce the risks of financial fraud.

According to the new rules, payment service providers are required to apply more stringent risk management mechanisms. Transactions exceeding 500 GEL related to potentially dangerous areas, such as online trading, investment projects, gambling and cryptocurrency transactions, as well as any actions that deviate from the client's usual behavior, will be subject to special control.

If a suspicious transaction is detected, the provider must contact the user and provide additional clarification. Moreover, such transactions may be temporarily suspended, and the client will have up to 48 hours to finalize the confirmation. The new rules will come into force in September and will initially affect transactions with bank cards, while the regulator promises to further strengthen the protection of vulnerable groups.