As of today, Bank of Valletta has increased the daily limit on mobile-to-mobile payments made through its app from €500 to €1000.
With most of Malta stuck indoors, online trade has seen an upswing, challenging the banks to come up with new solutions to serve its customers. Indeed, mobile payments have increased in popularity, since money does not need to be handled, thus, supposedly, reducing the risk of contamination.
To take advantage of the new limit, customers will need to reset their app, by updating their preferred daily limit through the Bank’s internet banking service, by following the sequence: My Mobile<Manage my Mobile<Manage Mobile to Mobile Payment Service.
“This is another measure being implemented to deter the spread of COVID-19,” the Bank said in a statement. “It will benefit customers, store employees and delivery persons as it is a faster form of payment, reduces the time one is in contact with others, lessens contagion risk and retailers can instantly track payments received.”
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Written By
Rebecca Anastasi
Rebecca is the editor of The Malta Business Observer and Business Agenda. She has interviewed stalwarts of the business community, and is interested in politics, current affairs and their effects on culture. On a parallel track, she is also a filmmaker, with over 16 years of industry experience. She loves food – though not necessarily cooking – and having passionate conversations about the latest film and book titles.
