Bank of Maldives, Visit Maldives Corporation and UnionPay have entered a new partnership aimed at strengthening digital payment services while expanding tourism promotion efforts in key international markets.
The collaboration will see the Maldives marketed directly to UnionPay cardholders through coordinated campaigns, leveraging UnionPay’s extensive global network to raise the country’s visibility as a travel destination.
A key component of the agreement designates Bank of Maldives as the local settlement agent for UnionPay transactions. This allows payments to be settled domestically in Maldivian rufiyaa, improving transaction efficiency for merchants and enhancing payment convenience for visitors.
BML already supports UnionPay through its merchant network, enabling card acceptance across hotels, resorts and retail outlets nationwide. The new arrangement is expected to deepen cooperation between the institutions and open the door to future initiatives, including potential UnionPay card issuance in the Maldives.
The partnership aligns with broader efforts to modernise payment infrastructure and support tourism growth through digital solutions. It follows additional agreements signed this week between BML, Visit Maldives and Weixin Pay, reflecting a wider push to cater to high-growth Asian markets.