Launch of voucher system for businesses to activate their voucher business accounts within the next five days
Minister for the Economy, Investment and Small Businesses Silvio Schembri launched the voucher system for businesses to activate their online voucher business accounts during this week. Information on a simple 10 step activation process was provided.
During a press conference, Minister Schembri explained how eligible businesses will first receive a registered letter with details and an activation code, which can then be used to activate the business account online through a purposely developed app.
The immediate activation of the voucher business account is of utmost importance for businesses to reclaim any utilised vouchers. The amount of businesses eligible for this measure amounts to 25,000.
Through the use of the app, businesses will be able to receive vouchers from clients where the value of the vouchers redeemed will be transferred to their credit card daily.
It was explained that every resident in Malta will receive by registered post five vouchers of €20 each, for a total of €100. Four of these vouchers can be used at hotels, accommodations, restaurants, bars and diving schools. The remaining €20 voucher can be used for retail and services provided by a large number of businesses which had to close due to legal notices 76 and 95 published in March of 2020.
Customers will be presenting printed vouchers in denominations of €20. Upon presentation, vouchers must be checked for authenticity under a UV light, which should illuminate the voucher. Businesses should not accept vouchers which do not illuminate under UV light.
Minister for the Economy, Investment and Small Businesses Silvio Schembri remarked that this initiative, as part of the plan for the regeneration of the economy, translates into an injection of €45 million into our economy for the months of July, August, and through to the end of September, when the vouchers expire. “This €100 voucher measure will translate into an injection of €45 million to boost economic activity for all. In order for this measure to run smoothly, we are first reaching out to businesses to illustrate how the voucher system shall work, foster better awareness of the security features of the vouchers themselves and ultimately help them adapt to be able to start accepting vouchers. Following this process, vouchers will start being distributed next week,” said Minister Schembri.
Policy Advisor within the Ministry for the Economy, Investment and Small Businesses Keith Abela explained that businesses are required to use the online digital application to scan the QR code on each voucher and then scan the VAT receipt associated with the client’s bill. This application can be operated by using a smart phone or tablet connected to the internet. Businesses are obliged to keep all vouchers claimed, as they will be required to submit these to MIMCOL for auditing purposes in the coming months.
The procedure to activate the voucher business account step by step for those businesses receiving the eligibility letter;
1) Visit https://app.vouchersmimcol.com ;
2) Register using an email address and password of your own choice;
3) Validate your email and then login in app;
4) Insert your VAT number (numbers only and without spaces);
5) Insert your unique activation code XXXXXXX;
6) Insert details of a credit card in which you would like to receive funds;
7) Add the name of your outlet/s;
8) Press Activate Business Account.
The Chief Executive Officer for MIMCOL Stanley Mifsud said that, in case of further assistance, one may visit the website www.vouchersmimcol.com or contact the business helpline 80074950, or else via email email@example.com .