Cashlogy: A Decade of Revolutionizing Payments in Malta

Step into the bustling streets of Valletta, Malta’s capital, and you’ll notice something different about the way people pay. Gone are the days of heavy wallets and clunky coins. Instead, you’ll see locals and tourists alike tapping away on their smartphones, using Cashlogy, a homegrown fintech success story celebrating its 10th anniversary.

From Garage to Global: The Cashlogy Journey

In 2012, in a garage in Birkirkara, Malta, Kintech, a small tech startup, launched Cashlogy. The idea was simple: create a mobile app that allows users to pay for goods and services using just their phone number. No bank accounts, no cards, no hassle. A decade later, Cashlogy has processed over €1 billion in transactions, serving hundreds of thousands of users across Malta and beyond.

Cashlogy’s co-founder and CEO, Mario Aquilina, remembers those early days. “We started with a simple question,” he says, “Why should people carry cash or cards when they can use their phone number to pay?” Today, that question has echoed across the globe, with similar services popping up in countries like India, Kenya, and even China.

Cashlogy: A Malta Success Story

Cashlogy’s impact on Malta’s financial scene is undeniable. It has given the unbanked and underbanked access to financial services, helping to reduce poverty and inequality. It has also driven innovation, spawning a new generation of fintech startups on the island.

Cashlogy’s success hasn’t gone unnoticed. In 2019, the European Commission awarded Cashlogy the prestigious RegTech Award for its innovative approach to financial inclusion. Locally, it has been recognized by the Malta Financial Services Authority (MFSA) and the Malta Chamber of Commerce, Enterprise and Industry.

Cashlogy Today and Tomorrow

Cashlogy has come a long way from its garage beginnings. Today, it’s a team of over 50 employees, with offices in Malta, Italy, and the UK. It offers a suite of services, including bill payments, money transfers, and even a virtual IBAN for businesses.

But Cashlogy isn’t resting on its laurels. Aquilina hints at exciting developments on the horizon. “We’re constantly innovating,” he says, “We’re looking at new markets, new services, and new technologies. The future is digital, and we want to be at the forefront of that revolution.”

As Cashlogy turns 10, it’s not just celebrating a decade of success. It’s to the next ten years, ready to shape the future of payments, one tap at a time.