Mastercard and FinanceMalta collaborate to propel growth of Malta's Fintech ecosystem

Mastercard and FinanceMalta will collaborate on delivering a comprehensive study that will include strategic recommendations that will be shared with the Malta Financial Services Advisory Council with the aim of contributing towards Malta’s Fintech Strategy.

The in-depth study will encompass a range of recommendations and initiatives that can be implemented over the coming years. To ensure a holistic view, the study will capture feedback from a wide array of the Fintech community stakeholders.

Mastercard, a global leader in finance and technology, is keen on enhancing its efforts in the development of Malta’s payment ecosystem. This increased commitment is aligned with FinanceMalta’s shared goal of positioning the smallest EU jurisdiction as a leading regional Fintech Hub, fostering innovation, and driving economic development.

The study aims to foster the growth and maturity of Malta's Fintech sector, ensuring it remains at the forefront of global trends and developments. Through the collaboration, the Maltese ecosystem will become an even more accommodative environment to Fintechs.

In tandem, public administrators, regulators and incumbent financial institutions will also greatly benefit from the outcomes of this study, as it will create fertile environment for collaborations, and enable the overall payment ecosystem for long-term success.

"Mastercard is looking forward to working closely with FinanceMalta to support the Malta Financial Services Advisory Council on this transformative initiative" Panagiotis Polydoros, the Country Manager for Greece, Cyprus and Malta at Mastercard said.

"Through our joint efforts, we aim to further empower Malta's Fintech community and ensure that the country remains at the forefront of innovative financial technology. By identifying the necessary actions and leveraging Mastercard's international expertise, we can create an environment that enables the growth and success of Malta's Fintech ecosystem."

FinanceMalta chairman, George Vella said that “the Maltese Fintech environment has been growing substantially over the past few years. This makes Mastercard’s commitment an important step towards establishing Malta as a Fintech Hub. We look forward to seeing the fruits that their expertise will reap for Malta’s Fintech environment.”

By fostering collaboration, facilitating knowledge exchange, and encouraging innovation, Mastercard believes its contribution through this initiative will be a determining factor to Malta's economic growth, while also enticing international investments and consolidating the nation's stature as a prominent player in the regional Fintech industry.