Bank of Maldives launches ‘Swipe’ instant payment wallet
According to BML, Swipe is a fully Maldivian-developed digital wallet designed to facilitate instant payments and cross-border transactions.
The Bank of Maldives (BML) on Wednesday launched a new instant payment wallet service called ‘Swipe’.
President Mohamed Muizzu officially launched the service at a ceremony held at Barcelo Nasandhura Malé Hotel, with user access planned before the end of the year.
According to BML, Swipe is a fully Maldivian-developed digital wallet designed to facilitate instant payments and cross-border transactions.
Key features of the Swipe wallet include:
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The ability to send and receive money instantly without additional fees
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Support for cross-border payments to enable international transactions for individuals and businesses
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A platform aimed at helping attract foreign currency inflows at a lower cost
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Availability for users in any country worldwide
BML stated that Swipe is intended to serve both young individuals and businesses, offering a convenient and efficient solution for managing digital transactions.
The bank added that the service will also contribute to easing foreign exchange challenges and connecting the Maldives’ financial system more effectively with global markets.
