Bank of Maldives (BML), Visit Maldives and UnionPay have signed an agreement to collaborate on a joint marketing initiative aimed at enhancing digital payment experiences and strengthening tourism promotion efforts across the Maldives. Under this strategic partnership, the three parties will work together to position the Maldives as a preferred travel destination for UnionPay cardholders, with coordinated marketing campaigns designed to draw greater attention to the country’s premium tourism offerings and world-renowned hospitality industry.
Through this collaboration, BML, Visit Maldives and UnionPay will focus on targeted marketing activities and initiatives that showcase the Maldives’ unique appeal to international travellers, particularly high-value visitors who frequent luxury resorts and hospitality properties. The partnership is expected to create added value for resorts and guesthouses by improving convenience and confidence for UnionPay cardholders when settling payments for accommodation, dining, excursions and related services. By streamlining payment options, resorts will be better positioned to deliver a seamless guest experience from arrival to departure, further reinforcing the Maldives’ reputation as a leading high-end holiday destination.
As part of the agreement, Bank of Maldives has been appointed as the settlement agent bank for settlement in Maldivian Rufiyaa (MVR) for UnionPay transactions in the Maldives. This local settlement framework lays a strong foundation for deeper cooperation in the future, including potential UnionPay card issuance opportunities in the country. Strengthening local settlement capabilities is expected to benefit tourism operators, particularly resort chains and travel service providers, by simplifying transaction processing, improving cash flow management, and reducing operational complexities associated with cross-border payments.
Commenting on the partnership, the Bank’s CEO and Managing Director, Mohamed Shareef, stated, “We are pleased to partner with Visit Maldives and UnionPay on this important initiative, which strengthens both our digital payment ecosystem and our efforts to support the tourism industry. The Bank being appointed as the settlement agent bank is further testament to our continued efforts to deliver secure, convenient and seamless payment solutions.” His remarks underscore BML’s commitment to aligning its payment infrastructure with the needs of the tourism sector, where efficient and reliable payment solutions are essential for maintaining service standards at resorts and hotels.
BML currently accepts UnionPay cards via its Point-of-Sale (POS) terminals and merchant portal, enabling resorts, hotels, retailers and service providers across the Maldives to process UnionPay transactions with ease. The Bank supports payment processing across all major credit and debit card networks including American Express, Visa, Mastercard and UnionPay, as well as leading digital wallets in the country such as BML Pay, WeChat Pay, Alipay, Apple Pay and Google Pay. Through its Merchant Portal and mPOS App, BML provides merchants with a comprehensive online payment solution, allowing them to generate real-time payment requests, monitor transactions efficiently and manage online store operations seamlessly. For resorts and other tourism enterprises, this integrated payment ecosystem is expected to further strengthen service quality, improve guest convenience and support the continued growth of the Maldives’ tourism-driven economy.
advertisment
advertisment
