Wallet One (W1), an international electronic payments system, launched its multi-currency e-wallet via franchising model in Georgia, making it the first South Caucasian country to have the facility.

The product, which is available on web interface and mobile applications on iOS and Android platforms, will provide country-adapted interface and support key features of the W1 international payment system besides meeting all requirements of the national regulations.

The e-wallet will enable Georgian users to pay over 350 local service providers, adjust automatic recurring payments, and provide p2p money transfers to friends and family and will allow them to convert between Georgian lari and seven other currencies.

Wallet One director of international development Anna Ivanova said: "We also see a great potential in international p2p money transfers between the users in Georgia and other countries where Wallet One system is already in operation. Further on we intend to expand out foothold in the region, developing our business in other countries of the Southern Caucasus."