Tbilisi, 2013 August 1


JSC Mobile Finance Service - Georgia (MFSG)*, the fully-owned subsidiary of JSC Mobile Finance Eurasia (MFE), announces the beta-launch of its Kerketi mobile payment system in Georgia**. The electronic money are being regularly issued and all services are functional, in a limited mode, under close scrutiny by the management team.  Until the full-scale launch in the Fall 2013, MFSG shall closely observe the system performance, as well as actively work on the expansion of its points of presence across the country, such as financial agents and merchants.  


Kerketi operates on all three national GSM networks and all mobile handsets (through its SMS and Java channels).  The key services of Kerketi are also available from a tri-lingual web-site, and soon from Facebook.


Kerketi cash-in service is available at more than 3,000 physical locations throughout Georgia, as well as from any plastic card.  Cash-out locations are being set up in the target 3 towns (Tbilisi, Kutaisi, Rustavi) and gradually will span the whole country.


The current suite of Kerketi services includes: person-to-person transfer, bill payment (100 major billers), merchant payment, receipt of international remittances (30 major systems), mobile gift coupons, cash-in (3,000 cash points, plastic cards) and cash-out (in limited locations), as well as balance, last transaction and bill inquiry services.


Kerketi is powered by advanced m-Commerce application from Utiba, a world leader in mobile finance technology. Kerketi development has been supported by the Financing Facility on Remittances of the International Fund for Agricultural Development (IFAD).


* MFSG is licensed by the National Bank of Georgia as a Payment Service Provider (registration number 0014-9004)

** Kerketi is a Georgian positively-loaded adjective meaning “tough”, “difficult to crack”.