BML's Swipe digital wallet adds international account, multi-currency transactions

Bank of Maldives (BML) has introduced an international account feature for its digital wallet, Swipe, enabling transactions in US dollars, pounds, and euros.

Bank of Maldives (BML) has added an international account feature to its digital wallet, Swipe, allowing users to hold and transact in US dollars, British pounds, and euros, the bank said Wednesday.

BML Chairperson Ali Habeeb and CEO Mohamed Shareef introduced the new features at a ceremony held at Barcelo Nasandhura in Malé, alongside the opening of the Youth Entrepreneurs Expo.

BML said the feature would open up new opportunities for young people.

CEO Mohamed Shareef said the bank is in discussions with payment networks including Alipay, WeChat Pay, Mastercard, and Visa to allow international merchant payments without a physical card. He said that service is expected to launch by the end of this year.

Shareef also linked the initiative to President Dr. Mohamed Muizzu's stated goal of growing the digital economy to 15% of GDP by 2030, saying Swipe would play a role in reaching that target.

BML said Swipe currently has more than 20,000 users and can be used to pay more than 3,000 businesses. Beyond sending and receiving money internationally, the wallet also supports peer-to-peer transactions between users in the Maldives and abroad, the bank said.

The announcement came the same day BML opened seven new branches nationwide and launched a separate youth entrepreneurship financing facility with SME Digital, both unveiled at events tied to the same expo.

BML's Swipe digital wallet adds international account, multi-currency transactions

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