Bonnici's promotion follows a slew of new hires to support Ixaris' expanding business operations. Bonnici reports to Ixaris CEO, Alex Mifsud.

In his new position, Bonnici is responsible for maintaining Ixaris' secure financial foundations so that its powerful payments platform, Ixaris Opn, can be rolled out across new sectors. Bonnici will strive to strengthen the quality of financial reporting and planning, enabling better decision making by senior management, as well as negotiating new agreements with banks and card issuers

"With the boom in new payment methods in recent years, the payments sector is ripe for innovation and Ixaris is at the leading edge" says Kenneth Bonnici, Group CFO at Ixaris. "Ixaris' strong business model and flexible payments platform put it in a superb position to expand further. From execution to strategy, it will be a privilege to contribute to a new phase of growth at a company that has already expanded into sectors as diverse as financial services, travel, marketing and healthcare. "

Alex Mifsud, CEO at Ixaris, adds, "Many industries are dissatisfied with the inconvenience and expense of traditional payments systems. Kenneth's appointment to group CFO is indicative of Ixaris' ambition to expand into new markets and geographies that lack convenient, low cost payment technologies. Kenneth has considerable experience in management as well as accountancy, enabling him to see the bigger picture for Ixaris' business. As part of the executive board, Kenneth will be integral for supporting our continued growth."

With more than 18 years of experience in finance and management, Bonnici was previously operations director at Ixaris, and managing director for its Malta office. Prior to this, Bonnici was at Grant Thornton where he set up and managed the business advisory practice of the Maltese firm, generating substantial growth. He led projects with clients operating in sectors as diverse as financial services, reetail, hospitality, construction, entertainment, e-commerce and government. Before this, he occupied senior finance roles in retail, aviation and manufacturing.