The National Bank of Georgia introduces an alternative payment dispute resolution mechanism

The National Bank of Georgia is launching a special commission to resolve disputes in the field of payments. According to the regulator, the alternative commission will begin to consider consumer complaints from December 1.

The Commission will deal with cases of unauthorized and improper payment transactions, violation of deadlines, improper charging of commissions and other aspects related to electronic payments. Complaints will be considered free of charge, and the commission's decision will become binding.

Disputes involving users of commercial banks, micro-banks and registered payment service providers, as well as microfinance organizations, will be subject to review. In addition to resolving the dispute, taking into account the agreement of the parties, the Commission will also be able to conclude the dispute with a settlement agreement.

The established deadline for consideration of complaints is no more than 90 days, with the possibility of extension by 30 days in case of complexity of the case. This alternative dispute resolution mechanism is becoming a response to the obligations assumed by Georgia under the Association Agreement with the European Union.