In a major stride toward enhancing financial convenience for both locals and visitors, Bank of Maldives (BML) has officially launched Swipe, a fully Maldivian-developed multicurrency digital wallet designed to facilitate seamless, secure, and instant transactions both within the Maldives and internationally.
The introduction of Swipe was marked by an official unveiling ceremony on Wednesday, graced by the President of the Republic of Maldives, Dr. Mohamed Muizzu. The event highlighted the country’s growing capacity in fintech innovation and digital transformation.
Developed entirely by Maldivian experts, Swipe marks a turning point in the nation’s financial technology ecosystem, offering an integrated payment solution that elevates the user experience for residents, tourists, freelancers, and businesses alike. For Bank of Maldives, the app represents a core achievement in its strategic objective of becoming the most innovative digital bank in the region.
Swipe enables users to make quick, contactless payments through QR codes at merchants across the country, making everyday transactions more efficient. The wallet allows users to send and receive funds instantly—even from abroad—through a multi-currency wallet. This feature is particularly valuable for expatriates, freelancers, and online sellers who frequently deal with international transactions.
One of Swipe’s key features is its open compatibility: users can top up their digital wallet using any debit, credit, or prepaid card issued by any bank worldwide. Withdrawals to BML accounts are also fast and easy, making fund management simple and accessible. Moreover, merchants benefit from real-time settlements, ensuring immediate cash flow availability without the delays typically associated with traditional banking processes.
For international tourists visiting the Maldives, Swipe offers a hassle-free alternative to carrying cash or navigating currency exchanges. Travelers can conveniently make payments across the country, from luxury resorts to local vendors, using a secure digital platform that meets both local and global payment standards.
Built with stringent security protocols, Swipe complies fully with both Maldivian and international financial regulations and standards, making it a robust and trusted alternative to foreign e-wallets. The app is also tailored to empower digital entrepreneurs in the Maldives, particularly freelancers and small business owners who rely on fast and secure international payments.
Speaking at the launch event, BML CEO and Managing Director Mohamed Shareef emphasized that the new product was designed with national interest and global functionality in mind. “Swipe is a major step forward for digital payments in the Maldives. It’s created by Maldivians, for Maldives and beyond to provide easier, safer, and more accessible financial services,” he noted. “As the national bank, we’re proud to lead this digital transformation with innovative solutions built by local talent.”
According to BML, the app will be available for beta testing starting December, with full public rollout expected shortly after. As one of the leading banks in the Maldives, BML continues to invest in digital innovation to strengthen the country’s financial infrastructure and elevate customer experience, further enhancing the Maldives’ appeal as a modern, tourist-friendly destination.
advertisment
advertisment
