Ooredoo Maldives has commenced the trial on facilitating international money transfers via m-Faisaa.
Earlier in 2022, telecommunications service provider had acquired the relevant license for money transfer services from Maldives Monetary Authority - the central bank - in accordance with National Payment System Act.
Upon acquiring the license, Ooredoo Maldives commenced work on integrating its digital payment system with international partners.
Meanwhile, Ooredoo Maldives confirms relevant tests being run to assess the system's effectiveness.
"In the coming months, once this new service is fully introduced, customers using m-Faisaa will be able to make payments and transfer money to various international vendors and locations," a statement from Ooredoo Maldives read.
Moreover, the telecommunication provider attested that the recipients will receive the transferred money into their digital wallets either in US Dollars or in the local currency of the country where the recipient is living.
In addition to this, Ooredoo Maldives confirms that customers using m-Faisaa will be able to transfer money to customers on any other network.