For the second year running, as a Governor at Finance Malta, I am proud to have once again facilitated another collaboration between Mastercard and Finance Malta. This year at the 17th Finance Malta Annual Conference which was attended by a record 700 people, Mastercard announced it is conducting a new study on payments in Malta. Moneybase was the Diamond Sponsor of the conference.
Here are the main takeaways from the presentaton.
Although cash is on the decline, Malta’s cash usage in terms of value remains at a staggering 65%
- 23% of the population still say they prefer cash payments
- 39% of card volumes are ATM withdrawals
- 232 cashless payments per capita vs the bechmark of 365
- The Maltese government has recently mandated that all salaries to be paid in via bank transfer.
Cyber Security
- Malta ranks 76th of 176 countries in terms of Cybersecurity.
- Card payment fraud is 32% higher than the benchmark
- Credit transfer is 6 times higher than the bench mark, the highest in the EU
Below are some key slides presented during the conference.
