Introduction
With the rapid growth of digital transactions in Malta, choosing the right payment gateway is crucial for business success. This guide explores the top 10 payment gateways available in Malta, highlighting features, fees, and other important considerations to help businesses make informed choices.
1. BOV (Bank of Valletta) Payment Gateway
Overview:
Bank of Valletta’s payment gateway is one of the most popular choices for Maltese businesses, offering easy integration with local banks and a secure payment processing environment.
Key Features:
- Local currency (EUR) support with multi-currency options
- Direct bank integration for local and international transactions
- Robust fraud protection features
Fees:
Varies depending on the account type and transaction volume.
Best For:
Local businesses in Malta looking for dependable support from a Maltese bank.
Overview:
APS Bank offers a payment gateway service tailored to small and medium-sized businesses in Malta. The gateway provides flexible payment solutions and works well for merchants already banking with APS.
Key Features:
- Easy integration with APS bank accounts
- Secure and reliable payment processing
- EUR support with multi-currency options available
Fees:
Depends on the type of APS account and the transaction volume.
Best For:
Businesses with an APS Bank account or those needing local bank integration.
3. PayPal
Overview:
A well-known global payment gateway, PayPal is trusted by many Maltese businesses, especially those targeting both local and international markets. It’s known for its ease of use and secure transactions.
Key Features:
- Easy integration with e-commerce platforms
- Supports EUR as well as other currencies
- Offers buyer and seller protection
Fees:
Standard PayPal transaction fees, with additional costs for currency conversion.
Best For:
E-commerce businesses serving international customers or local customers familiar with PayPal.
4. Stripe
Overview:
Stripe is a popular choice for Maltese businesses needing advanced customization. Known for its extensive API, Stripe is ideal for tech-savvy companies and startups that require a flexible and developer-friendly payment solution.
Key Features:
- Support for over 135 currencies, including EUR
- Powerful API and developer tools
- Built-in fraud detection and security
Fees:
Flat-rate transaction fees, with additional costs for international transactions.
Best For:
Medium to large businesses or startups with custom payment needs.
5. MyPos
Overview:
MyPos is a comprehensive payment solution, ideal for small to medium businesses in Malta. It offers various features, including in-store, online, and mobile payments, making it versatile for many business types.
Key Features:
- Supports EUR and multiple other currencies
- Instant payment transfers to MyPos accounts
- Integration with POS systems
Fees:
Low transaction fees, with no monthly or setup costs, ideal for small businesses.
Best For:
Small to medium businesses looking for a low-cost and flexible payment gateway.
6. Adyen
Overview:
Adyen provides a premium payment solution for businesses in Malta needing multi-channel payment options. Its extensive currency support and international reach make it ideal for businesses with European or global customer bases.
Key Features:
- Supports in-store, online, and mobile payments
- EUR support with over 150 currency options
- Advanced analytics and real-time reporting
Fees:
Processing and transaction fees, with discounts for high-volume accounts.
Best For:
Large businesses or those with an international presence needing a comprehensive payment solution.
7. Revolut for Business
Overview:
Revolut has expanded its services to provide payment processing for businesses, making it an excellent option for startups and tech-forward companies in Malta. Revolut’s flexibility in currency exchange and real-time payments makes it attractive.
Key Features:
- Supports EUR and offers multi-currency accounts
- Low-cost transactions and quick settlements
- Easy integration with online platforms
Fees:
Minimal transaction fees with no monthly charges for basic accounts.
Best For:
Businesses focused on international transactions and flexible payment options.
8. SagePay
Overview:
SagePay (now part of Elavon) is a trusted payment gateway with a strong reputation in Europe. Its easy integration with ERP and accounting systems makes it suitable for Maltese businesses needing streamlined operations.
Key Features:
- Supports EUR and multiple other currencies
- Integrates with popular accounting software
- Comprehensive fraud prevention measures
Fees:
Varies based on transaction volume and service plan.
Best For:
Businesses needing accounting integration and high-level security.
9. Skrill
Overview:
Skrill is an e-wallet and online payment solution popular in Europe, including Malta. Known for quick, secure transactions, Skrill offers an easy way for customers to pay in EUR and other currencies.
Key Features:
- Fast, secure transactions with EUR support
- International reach with currency flexibility
- Simple, user-friendly interface
Fees:
Transaction-based fees, competitive for small and medium businesses.
Best For:
Businesses seeking a European-friendly payment solution with an e-wallet feature.
10. Mollie
Overview:
Mollie is a European payment gateway known for transparent pricing and versatility. Supporting a range of payment options, it’s an excellent choice for Maltese businesses serving international customers.
Key Features:
- Support for EUR and various European payment methods
- Simple, transparent pricing model
- Subscription billing options
Fees:
Transaction-based fees with no setup or monthly costs.
Best For:
Maltese businesses targeting European customers and those requiring flexible payment options.
FAQs
1. Can Maltese businesses use international payment gateways like PayPal and Stripe?
Yes, PayPal and Stripe both support EUR transactions, making them convenient options for businesses in Malta targeting international customers.
2. What factors should be considered when choosing a payment gateway in Malta?
Consider integration with local banks, currency support, fees, security, and compatibility with your e-commerce platform.
3. Do Maltese payment gateways offer multi-currency support?
Yes, most payment gateways in Malta, such as Adyen and Revolut, offer multi-currency support, making them suitable for international transactions.
4. Are there low-cost payment options for small businesses in Malta?
Yes, MyPos and Revolut offer low-cost options ideal for small businesses with limited budgets.
5. Do payment gateways in Malta support “buy now, pay later” options?
Not all gateways offer this, but providers like Klarna, which supports European businesses, provide deferred payment options popular in e-commerce.
Conclusion
Selecting the right payment gateway is essential for businesses in Malta, especially as digital payments continue to expand. Each gateway on this list provides unique features and benefits tailored to different business models, from local establishments to global enterprises. By assessing features like fees, support, and integration, businesses can choose the gateway that best meets their needs.
