Minister for Finance, Prof. Edward Scicluna, has officially inaugurated the official opening of SecureTrading Financial Services, an integrated payments management company providing a single point of contact for payment processing, card acquiring, as well as Payment Card Industry compliance and cybersecurity services.

The company set up shop in Malta in May 2014 as the financial arm of the UC Group of Companies, one of the world's leading payment processors.

Addressing the company's management and staff at a launch ceremony held on Wednesday at the STFS's offices in Birkirkara, Minister Scicluna described this business venture as an example of how an investment can quickly develop from one employing only a handful of people to a much bigger employer.

"I am pleased to learn that this company that started off with just three employees last year, now has around 30 staff members in place and will have a 50-strong team by the end of the current year, with a forecast additional 100 by the end of next year," he said. Minister Scicluna described Malta as an ideal place for business, boasting both "Mediterranean" and "un-Mediterranean" characteristics at the same time. He referred to the island's financial services legislation as innovative, very disciplined and rigorous, but at the same time welcoming to foreign investors. 

STFS Managing Director, Mr Michael Norton, commented favourably on financial regulations, highly qualified human resources and infrastructure that supports a growing economy. "SecureTrading Financial Services is looking at further growth and new employment opportunities," he said.