Mal­taPost launches PostaPay Card

Malta Independent - - BUSINESS & FINANCE -

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.mal­­save. 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.mal­­save

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