aPay Group opens Malta HQ, will showcase payment processor at Malta Blockchain Summit

aPay Systems LTD, a high-volume online payments processor, inaugurated its new Malta headquarters on Monday.

Parliamentary Secretary Silvio Schembri cut the ribbon on the penthouse-level offices, located in Santa Venera.

At the opening ceremony, Schembri said, “The inauguration of these offices proves government’s proactive stance in providing a robust regulatory framework on Distributed Ledger Technology bearing valuable fruit and reinforces Malta’s decision in being at the forefront of this industry.”

Schembri also welcomed aPay Systems’ decision to put forward its intent to acquire a Maltese Virtual Financial Assets service provider license, saying,

“I thank aPay Systems for not only demonstrating their confidence in Malta but the changes the government is affecting within this sector, which are ultimately proving a secure ambience for the industry to operate within as well as enabling valuable economic growth for our country,” he said.

aPay’s new headquarters houses a staff of 25, said Philipp Sauerborn, CEO. “Malta is the ideal home for the aPay group of companies. For innovative blockchain-based financial services, all roads lead to Malta, and aPay has established a significant physical presence on the widest of those roads.”

In remarks alongside Schembri, Sauerborn revealed that aPay would be the largest exhibitor at the Malta Blockchain Summit, which opens today.

“aPay will be demonstrating the biggest new developments in the blockchain online payments sector, which we will showcase at the Summit,” said Mr. Sauerborn. The Malta Blockchain Summit runs into tomorrow.

aPay’s technology demonstration will show Summit visitors how to execute live transactions from the aPay blockchain to stored value China UnionPay, Visa and MasterCard card accounts, with reads and writes executed in fractions of a second.

“aPay’s demonstration of speedy, blockchain-focused operability with a major credit card network will impress visitors,” Sauerborn said.

“Before aPay’s integration of technology concepts driven by the aBey blockchain development project, transactions written to other blockchains would require minutes, even hours to complete. However, aPay completes every transaction in milliseconds. There is no other blockchain-focused payments processor which can deliver such speed and flexibility, demanded by businesses and consumers.”

Sauerborn also revealed that the company will showcase its own stored value China UnionPay card, which is available now. He said that Visa and MasterCard aPay cards are now in the final stages of implementation.

Summit visitors may open accounts and live transactions will be performed at aPay’s Malta Blockchain Summit booth.

Dr. Ciprian Pungila, co-creator of the open source aBey blockchain said that aBey Foundation was happy to be a licensor of aBey technology to aPay Systems.

“aPay’s demand for fluid, high-volume transactions are easily met by our underlying technology, which we believe to be amongst the world’s fastest and most flexible,” he said.

Pungila will make scheduled appearances at the aPay booth as well as delivering today’s keynote speech at the Malta Blockchain Summit alongside Schembri.

One week after its technology demonstrations in Malta, aPay Systems will exhibit at Singapore’s Blockshow Asia 2019, running November 14-15.

“At Blockshow Asia, visitors will see the extraordinary speed and flexibility of aPay Systems’ on-chain interoperability with the existing China UnionPay stored value cards and the upcoming Visa and MasterCard cards,” Sauerborn said.

“Visitors to the aPay Systems booth are welcomed to apply for aPay China UnionPay cards, pre-register for the upcoming Visa and MasterCard cards and perform transactions in the blockchain in real-time.”