Bank of Maldives (BML) introduced a digital wallet called Swipe last October. This is a multi-currency digital wallet that enables easy, fast, and secure financial transactions both within the Maldives and internationally. Swipe is a 100% Maldivian product, developed and created by Maldivians. BML has stated that this digital wallet will showcase the Maldives and its FinTech expertise in the global digital financial market. The bank describes it as a significant step forward in Bank of Maldives’ efforts to achieve its goal of becoming the leading digital bank in the region.
Using the Swipe digital wallet app, customers can make fast, easy, secure, and contactless payments via QR code from anywhere in the Maldives. Through Swipe, customers can instantly send money, receive funds into their multi-currency accounts from any country worldwide, and view their transaction history and spending statistics.
Funds can be deposited into the Swipe wallet using any debit, credit, or prepaid card issued by any bank worldwide. Additionally, funds can be easily sent to and withdrawn from BML accounts. Swipe is designed to allow businesses to receive instant deposits into their accounts, making it easier for business owners to manage their cash flow.
Additional benefits of Swipe:
• Will help Maldivian products reach international markets
• Will further enhance Maldivian tourism
• A product on par with globally renowned payment wallets
• A FinTech product that showcases the talent of Maldivian youth
• Swipe will connect the Maldives to the entire world
Developed with the latest security measures and fully compliant with Maldivian and international regulations, payment terms, and principles, Swipe is a Maldivian digital wallet that can be used as an alternative to other foreign wallets. BML also stated that Swipe will assist freelancers and online businesses in receiving payments from clients or customers in various countries.
As the number of tourists visiting the Maldives continues to grow, this will be a convenient wallet for tourists to make payments within the Maldives. Bank of Maldives stated that Swipe will be opened for beta testing in December of this year.
