MaltaPost has launched 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. The card may also be used for purchases over the internet and for cash withdrawals from ATMs.
This 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 affected 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. With the PostaPay Card being a contactless card, customers do not need to input 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. When discussing this innovative product, MaltaPost's Chief Executive Officer Joseph Gafa' highlighted PostaPay as part of MaltaPost's diversification strategy which includes amongst others online shopping solutions such as the 24/7 Easipik network, 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 around Malta and Gozo, making it entirely convenient for customers to avail themselves of financial services from our branches. This product seeks to further 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 Gafa'.
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.
A form can be downloaded from www.maltapost.com/postapayandsave. Customers can deposit cash to their account at any Post Office or Lombard Bank branch in Malta and Gozo. PostaPay is a product of Lombard Bank Malta p.l.c. as licensed by the Malta Financial Services Authority (MFSA) and is being offered from Post Offices.
Terms and Conditions apply, a copy of which may be obtained from any Post Office or from www.maltapost.com/postapayandsave.
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