Malta
Malta, a developed EU country, has a diverse economy supported by tourism, financial services, IT, iGaming, and agriculture. While services dominate, agriculture contributes to the domestic food supply, including vegetables, fruits, and livestock products. Malta’s economy has recovered strongly from the global financial crisis, with GDP growth projected at 4.6% in 2024, driven by exports, domestic demand, and tourism. Key exports include machinery, electronics, pharmaceuticals, refined petroleum, and agricultural products, while major imports cover machinery, vehicles, mineral fuels, food, and chemicals. Malta benefits from its strategic Mediterranean location, facilitating trade with the EU and global markets.
The country is part of the Single Euro Payments Area (SEPA), enabling fast, secure, and low-cost euro transfers across Europe. SEPA enhances cross-border payments and banking efficiency, supporting Malta’s financial and trade sectors. With a population of around 514,000, Malta continues to attract foreign investment, develop digital services, and maintain a business-friendly environment, making it a key economic, trade, and agriculture hub in the Mediterranean.
Top banks
Bank of Valletta
Bank of Valletta (BOV) is among the largest banks in Malta, providing a wide range of banking and financial services to individuals, businesses, and institutions. Its offerings include retail banking, corporate banking, wealth management, loans, and investment solutions, making it a trusted name in the Maltese banking sector.
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HSBC Bank Malta
HSBC Bank Malta offers a full range of banking products and financial services to both individuals and businesses. Its services include retail banking, corporate banking, wealth management, loans, and investment solutions, making it one of the most trusted and internationally connected banks in Malta.
APS Bank
APS Bank is one of the leading banks in Malta, providing a wide range of financial services including retail banking, corporate banking, investment banking, and asset management. With a strong commitment to customer service and sustainability, APS Bank offers trusted and innovative banking solutions in Malta for individuals and businesses alike.
Lombard Bank Malta
Lombard Bank Malta is a major player in the Maltese banking sector, offering a wide range of financial and banking services for both individual and corporate clients. Its services include personal banking, business accounts, loans, deposits, and investment solutions, providing reliable and professional banking services in Malta.
MeDirect Bank
MeDirect Bank, formerly known as Mediterranean Bank, is a leading digital bank in Malta specializing in wealth management and investment services. The bank offers a comprehensive range of financial products, including savings accounts, term deposits, investment portfolios, and online banking solutions, providing trusted and innovative banking services in Malta.
Top payment methods
Paypal
PayPal, a leading online payment solution, serves over 400 million active users worldwide in 200 countries and supports 100+ currencies. In France, PayPal is one of the most popular digital payment methods for online shopping, trusted for secure, fast, and convenient online payments.
Visa
Visa is the world’s largest global card network by transaction value, accepted almost everywhere. It’s known for secure, fast, and reliable payments, positioning itself as “the best way to pay and get paid by everyone.”
Mastercard
Mastercard is a global payments leader, dominating the co-branded card market in Europe and key countries like Brazil, Canada, and Germany. Known for secure, contactless, mobile, and digital payment solutions, Mastercard drives e-commerce, fintech, and online banking innovation worldwide.
ApplePay
Google Pay
Google Pay enables secure digital payments using stored credit or debit cards for online, in-app, and in-store purchases. It offers a fast, seamless checkout experience on Android devices and supports 3D Secure authentication for EU and UK-issued cards.
Concluding remarks
The country’s robust financial sector, strong banking system, supportive regulatory environment, and strategic Mediterranean location make Malta an attractive destination for business, trade, foreign investment, and financial services.
Cash (Flus Kontanti)
Cash remains a commonly used payment method in Malta, especially for smaller transactions and in local markets. Despite the rise of digital payments, cash continues to be significant in daily economic activities.
Credit and Debit Cards
Credit and debit card usage in Malta is widespread, with Visa and MasterCard being the most commonly accepted payment methods. The growing trend towards contactless payments highlights the shift towards more convenient and secure payment solutions. In 2020, Maltese consumers made an average of 27 card transactions per capita, showcasing the country’s embrace of digital payments and modern payment methods.
Bank Transfers (Trasferimenti Bancari)
Bank transfers in Malta are widely used for business payments, real estate transactions, utility bills, and salary transfers. Malta’s banking system supports secure domestic and international transfers, including online banking, wire transfers, and electronic funds transfers (EFT), providing fast, reliable, and convenient payment solutions for individuals and businesses.
Mobile Payments
Mobile payment methods such as Apple Pay and Google Pay are gaining popularity in Malta. These methods allow users to make payments using their smartphones at compatible establishments. Local mobile payment apps are also becoming more widespread.
Online Payment Platforms
Online payment platforms such as PayPal are widely accepted for eCommerce transactions in Malta. These platforms provide a secure and convenient way to pay for goods and services online, supporting the growth of the digital economy.
Prepaid Cards
Prepaid cards are popular in Malta, often used by younger individuals and for online shopping. These cards offer a flexible payment option without needing a traditional bank account.
Direct Debits (Addebiti Diretti)
Direct debits are commonly used for recurring payments in Malta, such as utilities, subscriptions, and loan repayments. This method provides a convenient way to manage regular financial commitments.
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