With immediate effect, Bank of Valletta is increasing the daily limit on mobile to mobile payments effected through its BOV Mobile App from €500 to €1000.

Customers can now pay for purchases of up to €1000 on a daily basis, simply by sending money from their mobile phone to anyone on their contact list who is also a BOV Mobile Pay subscriber.

With the use of BOV Mobile to Mobile Payments, money does not need to exchange hands physically. The transfer of money is carried out instantly and securely and directly into the account of the individual or shop receiving payment. Customers do not need to have the account details of the beneficiary but only the mobile number. Once payment is effected, both the payer and the payee receive an instant notification with details of payment.

All that BOV Mobile users need to do is update their preferred daily limit through the Bank's Internet Banking service (My Mobile<Manage my Mobile<Manage Mobile to Mobile Payment Service).

This is another measure being implemented to deter the spread of COVID-19. It will benefit customers, store employees and delivery persons as it is a faster form of payment, reduces the time one is in contact with others, lessens contagion risk and retailers can instantly track payments received.

More information on BOV Mobile to Mobile Payments can be found here