Bank of Maldives (BML) is preparing to broaden the capabilities of its digital wallet, Swipe, with new features aimed at making international payments and money transfers more convenient for Maldivians at home and overseas. According to BML Chief Executive Officer Mohamed Shareef, the bank plans to introduce further enhancements to the platform that will allow Maldivians travelling abroad to make payments without relying on a physical bank card, while also enabling users to receive money sent from overseas instantly through a process designed to feel as seamless as a domestic transfer.
Shareef said BML is set to launch a new feature during July that will offer a capability not currently available in other wallets used in the Maldives. He explained that one of the major advantages of the upcoming service will be the ability for users to receive funds from abroad immediately, with the money credited in a way similar to a local payment. This development is expected to significantly improve convenience for Maldivians living, studying, working or travelling overseas, as well as for families and businesses that depend on timely international remittances and cross-border financial support.
The planned expansion reflects BML’s broader efforts to position Swipe as a more versatile digital payments platform for a rapidly evolving financial environment. Shareef said the bank also intends for Swipe to support payments by Maldivians overseas without the need to use a bank card, further strengthening the role of mobile-based payment solutions in everyday transactions. He added that BML’s longer-term ambition is for Swipe to become the preferred digital wallet for tourists visiting the Maldives, allowing them to make payments conveniently across the country and enhancing the overall digital payments ecosystem for residents and international visitors alike.
Swipe was launched in March 2025 as a digital wallet developed entirely by Maldivians, highlighting local innovation in financial technology. BML has stated that the platform complies with international financial regulations and payment service standards, underlining its focus on security, reliability and modern payment infrastructure. The wallet currently supports both domestic and international transactions, giving users flexibility in how they manage and move their money.
At present, Swipe allows customers to make contactless payments by scanning QR codes, send money instantly, receive funds into multi-currency accounts from anywhere in the world, and monitor spending directly through the application. Users can also link their BML accounts or top up their wallets using any credit, debit or prepaid card, making the service accessible to a broad range of customers. With the addition of instant overseas transfers and card-free payment functionality abroad, Swipe is expected to further strengthen its value as a practical and forward-looking financial tool designed around the needs of a connected and increasingly mobile population.
BML’s plans for Swipe reflect growing demand for faster, simpler and more inclusive digital financial services in the Maldives. As international travel, overseas study, remote work and global commerce continue to shape how people use money, the bank’s efforts to expand the platform signal a wider shift toward seamless digital transactions that can support both personal and commercial activity. For Maldivians abroad, the enhanced wallet is expected to offer greater ease in making payments and receiving support from home, while for the country’s visitors, it points to a future in which digital convenience becomes an even more central part of the Maldivian experience.
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