Paysafecard launched in Malta

A new electronic payment system was launched by Alert Group during a press conference held on Monday afternoon.

Paysafecard is a secure electronic payment method, based on a cash prepayment, with users topping their balance in authorised stores and being issued with a 16-digit PIN number to make online payments.

Alert Group Managing Director, Claudine Cassar said the company was proud of being appointed as the sole distributor in Malta for the leading prepaid means of electronic payment in Europe.

She noted that the company now employs over 50 highly skilled employes working in the Information Technology and marketing fields.

"Our company in continuously growing and following the recent set-up of the group we have been awarded the prestigious Best Performing IT Contractor for 2011-12 by the Malta Information Technology Agency," Cassar said.

The Finance Minister Tonio Fenech said that Alert's achievemnts was a "testimony to the success of the Maltese economy especially in the IT and financial services sectors." He said the IT services sector has doubled in the last years and now employs over 6,400 persons.

 "We are transforming our economy to a knowledge based one which is fostering growth," Fenech said.

The finance minister said that "in a short space of time the Maltese economy is transforming itself into a dynamic and innovative economy which is generating job opportunities in the services sector."

Quoting the Fitch credit agency report on Malta, Fenech said Malta has undergone a structural change towards value added exports, in the services sector in particular.

Fenech said part of this success must be attributed to the schemes and initiatives such as tax credits, grants and the Get Qualified scheme which allows persons to further their studies and have up to 80% of their costs covered through tax credits.

He said 2000 persons have applied for the scheme which has cost the government €7 million.

Udo Muller, a paysafecard director said Malta is the 33rd country in which the Austrio-German company is opening its operations in and explained that customers can but the paysafecards from 350,000 outlets worldwide.

He said that in 2011 the company sold over 45 million cards and transactions amounted to € 1 billion. Muller explained that the service is very popular because "it is secure, it guarantees confidentiality and is risk free."

Cards can be purchased in a number of outlets in Malta and each card of €10, €25, €50 and €100 comes with a unique PIN number which can be used for online purchases at over 3500 authorised online shops.