MaltaPost launches PostaPay Card
MaltaPost yesterday announced the launch of an innovative, financial product – the PostaPay Card, a secure and convenient way to shop around the world without carrying cash.
The PostaPay Card can be used at any retail outlet bearing the MasterCard logo anywhere in the world, allowing customers to shop without carrying cash. It can also be used for purchases over the internet and for cash withdrawals from ATMs.
The card is the ideal companion for anyone travelling abroad or for those who are uncomfortable with sharing credit card details over the internet. The card is supported by 3D Secure and therefore when shopping online, a onetime password will be sent by SMS on the mobile number registered with MaltaPost. This password can only be used once, which means that for every online transaction effected, a new password is sent, making shopping online much safer.
The card, which is linked to a PostaPay&Save account, supports the innovation of contactless technology. As a contactless card, customers are not required to provide PIN details or leave any signature for transactions up to €25. All they need to do is simply touch a contactless card reader with their PostaPay Card. This is permissible for up to 10 times per day.
Together with this, as the card does not allow for overdrafts, customers will not run the risk of spending beyond their budget.
Discussing this innovative product, MaltaPost’s CEO Joseph Gafà highlighted PostaPay as part of MaltaPost’s diversification strategy which includes online shopping solutions such as the 24/7 Easipik network and document management services for businesses as well as financial services for the general public.
“Post offices are strategically located in the heart of numerous villages in Malta and Gozo, making it very convenient for customers to avail themselves of financial services from our branches. This card seeks to extend the services our company offers through our postal network and is particularly attractive for online shoppers who are uncomfortable with sharing credit card details or for those who require a simple payment solution when travelling abroad” said Mr Gafà.
Customers must be 16 years or over to apply for this card and can do so with a minimum balance of €50. To apply for this service, customers are invited to visit any Post Office and complete an application form. An application form can also be downloaded from www.maltapost.com/postapayandsave. Customers can deposit cash in their account at any post office or Lombard Bank branch in Malta and Gozo.
PostaPay is a product of Lombard Bank Malta plc as licensed by the Malta Financial Services Authority and is being offered from post offices. Certain terms and conditions apply, a copy of which can be obtained from any post office or from www.maltapost.com/postapayandsave