Bank of Maldives (BML) plans to expand its digital wallet, Swipe, to allow Maldivians travelling overseas to make payments without using a physical bank card, the bank's Chief Executive Officer Mohamed Shareef has said.
Speaking about the platform's future development, Shareef said BML also plans to introduce a new feature later this month that will enable users to receive money from overseas instantly, with funds credited in the same way as a domestic transfer.
“We are planning to introduce, during July, a powerful feature that is not available in any wallet currently used in the Maldives. One of the key benefits will be that, for example, if someone is in the UK and deposits money, it will be credited instantly as though it were a local payment,” Shareef said.
The BML CEO also said Swipe will enable Maldivians to make payments abroad without needing to use a bank card. He added that the bank's ambition is to make Swipe the preferred digital wallet for tourists visiting the Maldives as well, allowing them to make payments across the country. Furthermore, Swipe is expected to provide a system through which people can receive money sent from overseas instantly and without any transfer fees.
Swipe was launched in March 2025 as a digital wallet developed entirely by Maldivians. According to BML, the platform complies with international financial regulations and payment service standards.
The wallet supports both domestic and international transactions. Users can link their BML accounts or top up their wallets using any credit, debit or prepaid card.
BML said the application currently allows customers to make contactless payments by scanning QR codes, while users can also send money instantly, receive funds into multi-currency accounts from anywhere in the world, and monitor their spending through the application.