In the digital economy, the seamless and secure transfer of value is not a convenience; it is the fundamental engine of commerce. Every electronic transfer, online purchase, and digital wallet transaction operates on a complex set of legal and technical "rails." Navigating the regulations governing payment systems, e-money issuance, and cross-border transfers is a critical requirement for any business in this space. Legal Sandbox Georgia provides specialized legal counsel to payment service providers (PSPs), fintech innovators, and e-commerce businesses, ensuring your payment solutions are not only technologically efficient but built on a foundation of absolute regulatory compliance.
Our practice begins with licensing and regulatory compliance, as the operation of a payment service is a heavily supervised activity. We provide expert guidance on the full spectrum of regulations governed by the National Bank of Georgia (NBG) and manage the entire licensing process for clients seeking to become a registered Payment Service Provider or an E-Money Institution. Our ongoing counsel ensures your operations remain in strict compliance with the Georgian Law on Payment System and Payment Services, AML/CFT regulations, and data protection requirements.
Once licensed, we provide crucial legal advice on the operational aspects of your payment business. This includes drafting the key legal documents that govern your relationships with users, merchants, acquiring banks, and international payment networks like Visa or Mastercard. We also ensure your processes for transaction processing, settlement, and the safeguarding of client funds are both legally sound and effective.
Innovation is the lifeblood of the payments industry, which is why we act as your strategic legal partners in new product development. We work alongside your product teams to review the architecture of new solutions—from mobile payment apps to innovative cross-border remittance platforms—to identify and mitigate legal and regulatory risks from the earliest stages of development.