His Excellency the Governor of Palestine Monetary Authority Attends Maalchat E-Payment Services’ Launching of E-Wallet App

Ramallah and Al-Bireh governorate- His Excellency the Governor of Palestine Monetary Authority, Mr. Azzam Shawwa, attended Maalchat E-Payment Services’ announcement of launching the e-wallet application, after obtaining the final license from Palestine Monetary Authority to start its services in Palestine.

The event was also attended by Maalchat Board of Directors’ Chairman Dr Samir Hulileh, Maalchat General Manager Mr. Issa Kassis, members of the Maalchat Board of Directors, and a number of executive directors from Palestine Monetary Authority.

The Malchat e-Wallet app is the first of its kind in the Arab world for electronic payment as well as a chat platform.

Mr. Shawwa expressed his happiness with Maalchat launching of developed services that are consistent with the most recent global developments in this field in Palestine and pointed out the role of this in helping citizens to carry out their financial transactions with less efforts and costs and at any time, and without the use of cash.

“Promoting a culture of electronic payment in Palestine is one of the priorities and strategic interest of Palestine Monetary Authority because it has a role in providing financial services to all in the society, especially those who do not have bank accounts, entrepreneurs and small business owners,” said Mr. Shawwa.

Maalchat Board of Directors’ Chairman Dr. Samir Hulileh said that the e-Wallet from Maalchat would provide all new services in the world of electronic financial services, which would be made available to all in the society and would facilitate carrying out financial transactions with ease and security.

Dr. Hulileh thanked Palestine Monetary Authority for its efforts in developing the e-payment services system in Palestine, praising the role of all those who contributed to the completion of the Maalchat project.

Maalchat General Manager Mr. Issa Kassis said that what distinguished the application of Malchat was that it was the first independent application in the Middle East and North Africa region that was not linked to a bank or telecommunications company and simulates financial inclusion through an integrated system. It is an application accomplished with Palestinian skills and capable of regional and international competition.

Maalchat users, including young people, businesspeople and school students, will enjoy the flexibility of dealing with an integrated payment system, which can attract people “outside and within the banking system” to the Maalchat experience by communicating and paying instead of using cash, which is expensive and high-risk, said Mr. Kassis.

“Malchat will start with individuals and businesses and will extend to public services -those who issue invoices- and to markets. This will give every business the opportunity to reach customers; hence, promote employment and economic development through a network of secure transactions, and a space for dialogue and negotiation through the same application, which distinguishes Maalchat,” Mr. Kassis added.

Maalchat E-Payment Services was established in 2019 by a group of businessmen specialized in the field of electronic payment, banking and investment with a capital of USD 1 million. Maalchat aims, through its multiple services, to transfer and receive funds, pay merchants, pay bills, and online shopping using major credit cards.