Papaya Ltd is an electronic money institution focused on e-wallets and payment cards. Papaya Ltd offers e-wallet accounts, prepaid cards to private clients, businesses, merchants. Incorporated in Malta, Papaya Ltd is authorized and regulated by the Malta Financial Services Authority.
Papaya eWallet allows to shop, send and receive money instantly
Papaya cards are prepaid cards, rather than debit cards.
Debit vs Prepaid Cards. Debit cards do not have a separate balance and are connected to an account or e-wallet. Such cards are are loaded automatically when the account/e-wallet is being topped up. Prepaid cards have a separate balance from an account or e-wallet. These cards have to be loaded manually, usually from the account/e-wallet.Papaya cards are issued as both physical (plastic) and virtual cards; plastic cards are delivered to the customer's address.
Papaya Prepaid Card is a single currency card, it can be issued in EUR only.
Papaya Card is currently available for clients residing in Malta, Italy, Spain and Greece.
Other countries will follow soon.
Papaya Card can be topped up from the cardholder's Papaya eWallet
|Card Issuance Fee||10.00 EUR||free|
|Card Delivery Fee||5.00 EUR||n/a|
|Monthly Fee||1.00 EUR||1.00 EUR|
|Transaction Fee (outgoing)||0.25 EUR||0.25 EUR|
|Currency Exchange Fee||3.00 %||3.00 %|
|ATM Withdrawal Fee||Domestic: 2.00 EUR|
International: 2.00 EUR
|Maximum Single Load Limit||3,000 EUR||3,000 EUR|
|Maximum Daily Load Limit||15,000 EUR||15,000 EUR|
|Maximum Annual Load Limit||50,000 EUR||50,000 EUR|
|Maximum Balance Limit||15,000 EUR||15,000 EUR|
|ATM Withdrawal Limit||1,000 EUR per day||n/a|
Papaya do not conduct operations with cryptocurrencies.
*) Based on the information from Apple App Store.
Papaya Ltd is authorized by the Malta Financial Services Authority for placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions. The authorization was granted on 30 April 2012.
Due to EEA passport rules Papaya Ltd, can conduct its activities in any of the 31 EEA member states. Papaya Ltd do not participate in deposit guarantee schemes.
Papaya Ltd is a SWIFT member and a SEPA scheme participant.
Papaya Ltd is connected to MasterCard payment card scheme.