MDB issues new scheme with revised collateral requirement after the Malta Chamber of SMEs highlights difficulties
23 September 2020
Following problems flagged by members on accessing the MDB loan scheme, the Malta Chamber of...
GRTU has today hosted the launch of the YES Money Card by
Insignia Cards Ltd Malta and Lighthouse Group, with the endorsement of the
Honourable Dr Christian Cardona, Minister for the Economy, Investment and Small
GRTU President Paul Abela
also endorsed the initiative as a very innovative and practical way of payment.
YES Net is a payment system
tailored for the Maltese market that brings extensive benefits to both
consumers and retailers alike. The YES Net programme is based on the YES Money
Card and a network of Merchants who accept payment by this Card.
The YES Money Card creates
synergy between traders and consumers. It is an easy way for consumers to get
access to, and use, credit. This new credit card, available to the Maltese
public, is totally fee-free (with no introductory or yearly charges) and allows
consumers to make purchases today and repay them in fixed monthly installments
over a period of up to 36 months, with highly competitive interest rates.
Card applications are
completed online at www.yesmoney.com.mt, without having
to open a bank account or deposit any money. Approval is given within 30
seconds, and the YES Money Card will be delivered to one's home or workplace in
the subsequent days.
Apart from being free,
giving consumers the ability to "buy now and pay later' and the ease of
application and delivery, the YES Money Card gives a 56-day interest-free
period and lines of credit up to €5,000. As an additional benefit, for every
Euro spent on the card, the consumer earns one YES Coin. YES Coins can later be
redeemed for a variety of rewards.
GRTU welcomes increased
competition in this sector and innovative ways to boost payment methods such as
this initiative. Minister Cardona also commended the initiative and thanked the
companies involved as well as the GRTU for providing its constant support.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).