Mobile payments app to debut in Malta
Myney, Malta’s first mobile payment technology, has been officially launched by Fexserv Financial Services. Developed in collaboration with NTT Data of Japan and NTT Data Italia, the app allows users seven different ways to top up their accounts as well as 10 different functionalities to handle existing funds. It is currently available for download on the App Store as well as Google Play, with over 600 retailers having expressed an interest in accepting payments made via the app in coming months.

Fexserv Financial Services have launched Myney, Malta’s first mobile payment solution which has been developed in conjunction with NTT Data of Japan, one of the world’s largest organisations in the field of IT and innovation, through their Italian subsidiary, NTT Data Italia.

The launch aptly took place at the Casino Maltese which formerly housed the Treasury of the Knights of St John and also served for some time as the Government Treasury during the early British period in Malta.

Myney has been in creation for over three years and has been developed at one of the three research and development Centres owned by NTT Data.

Present for the launch were representatives of NTT Data from Japan and Italy as well as other support partners from overseas including representatives of Western Union, Deutsche Bank, Paycasso, Intelligent Payments Group, MasterCard, IDT Financial Services, MySafePay, and Global Payment Services who came specifically for this occasion. Also in attendance were Minister for the Economy, Investment and Small Business Chris Cardona and Minister for Finance Edward Scicluna.

An opening welcome address was given by David Borg Hedley, general manager of Fexserv and project leader who briefly explained the functions available on the Myney app through a short video demonstration of some of the main features. Tony Zahra, chairman of Fexserv addressed the guests present and thanked all those who played a part in bringing this payment system to the market. A number of the foreign support partners also made short addresses following which Dr Cardona and Prof. Scicluna also spoke.

The Myney app is possibly the most integrated mobile payments APP imaginable and is available for free download on the App Store and Google Play. Once downloaded private customers can immediately register and get an account. Private users can register digitally, verify their identification and get an account within minutes without needing to visit any of Fexserv’s offices. Myney user accounts can be topped up in seven different ways while funds on the holders account can be utilised in 10 different functions.

The app also includes a loyalty programme, account maintenance and personalisation and an optional personal finance manager system whereby the system tracks and compares to user budgets all transactions processed through the Myney payment account. Interest shown by the business community is very strong and it is expected that over 600 shops will be accepting Myney payments in the coming months.