In May last year, the first fully-digital bank (called Space) opened in Georgia. The bank operates as a daily finance management application and has no branches or other physical spaces. It offers its customers the opportunity to association another bank accounts with it, make money transfers, obtain a loan in 2 minutes and pay utility bills – all remotely. At the beginning of the year, Space also added 2 more services:
- NFC-capable stickers for contactless payment capabilities and
- QR code capacity.
The new services are expected to help make payments faster and easier for Space customers.