Mastercard has partnered with FinanceMalta to deliver a comprehensive study with strategic recommendations to develop Malta’s fintech ecosystem. The in-depth study will encompass a range of recommendations and initiatives that can be implemented in the future.

To ensure a holistic view, the study will capture feedback from a wide array of the fintech community stakeholders. Mastercard 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 regional fintech Hub, fostering innovation, and driving economic development.

Establishing a thriving fintech hub 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 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.

Officials from Mastercard said they are looking forward to working closely with FinanceMalta to support the Malta Financial Services Advisory Council on this transformative initiative. Through their joint efforts, they aim to further augment 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, they can create an environment that enables the growth and success of Malta’s fintech ecosystem.

Also commenting on this partnership, FinanceMalta’s representatives stated that the Maltese fintech environment has been growing substantially since 2021. This makes Mastercard’s commitment an important step towards establishing Malta as a fintech Hub. Theylook 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’s 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. .