Visitors arriving in the island nation now have even more convenient ways to manage their money, as Bank of Maldives (BML) introduces two major enhancements to its digital banking services: PayMV QR fund transfers and One-Time Password (OTP) delivery via WhatsApp. Together, these upgrades make everyday payments smoother for residents, expatriates, and long-stay travellers exploring the country’s resorts, guesthouses, cafés and dive centres.
At the heart of the update is PayMV QR, a new feature within the BML Mobile Banking app that allows customers to send and receive funds simply by scanning or generating a QR code, no need to type account numbers, card details or long references. A customer can open the app, scan a merchant’s or friend’s PayMV QR code, confirm the amount, and complete the transfer in seconds. Those receiving money can generate their own QR code in the app and have it scanned on the spot, whether they are running a local souvenir shop on an island or splitting a bill after a day of excursions.
With this launch, Bank of Maldives has become the first bank in the country to comply with the new payment standards introduced by the Maldives Monetary Authority (MMA) under its Maldives Payment System Development (MPSD) project. This early compliance underscores the bank’s role as the leading payment service provider in the Maldives and its focus on modern, interoperable payment technologies that match global expectations for digital finance.
BML’s Chief Executive Officer and Managing Director, Mohamed Shareef, noted that all payment providers in the country are required by the Central Bank to adopt the new standards, and highlighted that BML is proud to lead the way. He explained that customers can now send money directly from their accounts by scanning a QR code, or receive money just by generating a QR code in the app, creating a smoother, more intuitive banking experience. For tourists who maintain local accounts or work with Maldivian partners, this means an easier way to pay for services or reimburse local operators without carrying large amounts of cash.
Complementing the QR transfer feature, Bank of Maldives has also introduced WhatsApp as an official channel for One-Time Passwords used to authorise online transactions. Customers can now choose to receive OTPs securely through WhatsApp on their registered mobile number, in addition to existing options such as SMS, email and the bank’s Authenticator app. This added flexibility is particularly helpful for customers travelling abroad, where SMS delivery may be unreliable due to roaming or network issues, while data-based messaging remains accessible.
To activate WhatsApp as an OTP channel, customers simply log in to Internet Banking or the BML Mobile Banking app and update their OTP delivery preference. For security, the change must be confirmed using an existing OTP method, ensuring that only authorised users can enable the new channel. Once activated, OTPs arrive directly in the customer’s WhatsApp chat, clearly labelled and ready to use for approving transfers, online payments and other sensitive actions.
Mohamed Shareef stressed that the bank’s priority is to offer solutions that are both secure and convenient, keeping pace with the rising demand for digital banking. By extending OTP delivery to WhatsApp, BML is making access to essential banking services even more straightforward, without compromising on protection against fraud or unauthorised access. For international visitors and Maldivians who travel frequently, this reduces the frustration of delayed or missing SMS codes and supports seamless transactions during their stay in or outside the country.
These digital enhancements sit on top of Bank of Maldives’ extensive nationwide presence. The bank operates 42 branches across all 20 atolls of the Maldives, supported by 202 Self Service Banking Centres and 262 ATMs, alongside a rapidly growing portfolio of digital banking services. Through this combined physical and digital network, BML serves communities on remote islands as well as the busy capital Malé, supporting individuals, businesses and the tourism sector that welcomes visitors from around the world.
For foreign tourists, these upgrades mean that paying local partners, booking domestic services, and managing funds while enjoying the islands can be more streamlined than ever—especially for those who choose to bank locally or maintain long-term ties in the Maldives. With PayMV QR transfers simplifying person-to-person and merchant payments, and WhatsApp OTP ensuring secure access to digital banking wherever data coverage is available, Bank of Maldives is strengthening the digital foundation that supports a modern, visitor-friendly destination.
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