Payment Systems


MTEUROPAY is a payment system operated by the Central Bank of Malta for the cost-effective and secure settlement of euro retail payments. The Central Bank of Malta has the required infrastructure to connect directly with the EBA's Step 2 Platform, for the clearing of national and cross-border SEPA Credit Transfers (SCTs) and SEPA Direct Debits (SDDs), both Core and B2B.  Inbound and outbound communication occurs exclusively by means of SWIFT. Several processing cycles are provided in the course of each processing day. Payment processing in MTEUROPAY is effected in line with the TARGET2 calendar.

Participation in MTEUROPAY is open to credit institutions, financial institutions, payment processing institutions and central securities depositories licensed in Malta by the Malta Financial Services Authority.

The Central Bank of Malta may also, at its discretion admit the following entities as direct participants:

  • Public Sector entities in Malta processing payments in full compliance with technical specifications;
  • Institutions licensed under the Investment Services Act in Malta by the Malta Financial Services Authority;
  • Organisations providing clearing or settlement services that are subject to oversight by competent authorities in Malta.

The benefits that MTEUROPAY offers to the participants are:

  • No credit risk as settlement is through Central Bank money;
  • Access to European payment infrastructures;
  • SCTs addressable to / from Institutions that are participants are cleared locally;
  • Economies of scale;
  • No dependency on correspondent banks for retail payments in euro;
  • National governance structure.

Prospective participants will need to undergo a thorough due diligence assessment process when they apply to join MTEUROPAY and they need to demonstrate that they have robust AML / FT compliance procedures in place.

For further information, you may send an email here.

The Agreement on access to MTEUROPAY, the operating procedures and the technical standards will be made available after the signing of a non-disclosure agreement.