TBC Bank’s non-cash spending increased by 21% compared to the same period last year, whereas the number of transactions grew by 13%, per the TBC Capital report.
The most important aspects of the report are as follows:
- Groceries: Non-cash spending increased by 22% annually, with average spending per transaction at GEL16.
- Hotels: Non-cash spending increased by 42%, with average spending per transaction dropping to GEL 359.
- Non-Residents: Non-cash spending by non-residents increased by 39% year-over-year.
Inflation on food and non-alcoholic beverages rose to 3.1% during this period, while the data supports that the trend shifted toward digital payments in various sectors.
