In just a few years, major advances in technology, massive shifts in consumer buying behaviour, changes in government policies and regulations, sharp e-commerce growth and the global proliferation of connected devices have driven significant changes in digital payments, said Daniel Borg, CEO at the Gozo Business Chamber (GBC), during a webinar organised in collaboration with Bank of Valletta. “The COVID-19 pandemic has also accelerated the process of digitisation and achieved more over the last two years than in the last few years,” Borg noted at the webinar titled ‘Digital Payment Solutions for Businesses’. “This new wave of innovation and competition is challenging traditional payment providers to undertake value-driven digital transformation − evolving their offerings to create new value for customers, partners and themselves in innovative and engaging ways.” Kenneth Farrugia, chief retail banking officer at Bank of Valletta, said: “Digital payments within the context of COVID-19 have become a focal point for many, and not only from a business perspective, as digital payments provide speed, efficiency and cost reductions. “We have seen a massive shift from the traditional...