The Bank of Maldives (BML) has officially launched its multi-currency digital wallet, “Swipe”, marking a new step in the country’s digital payments landscape.
Swipe was unveiled during a special ceremony held alongside the ITB Berlin tourism fair in Germany. The launch event was officiated by the Chairman of the Maldives Association of Tourism Industry (MATI), Hussain Afeef.
BML’s digital wallet has also been designated as the official wallet of Visit Maldives, strengthening efforts to integrate digital financial services into the country’s tourism sector.
Swipe is a fully Maldivian-developed product, created and built by local developers. The digital wallet has been designed in compliance with international standards and regulatory requirements governing currency transactions.
The application enables users to carry out transactions both within the Maldives and internationally. In addition to linking with Bank of Maldives accounts, users can fund their wallets using any credit, debit or prepaid card.
Swipe was first officially introduced in October last year. Beta testing of the digital wallet was conducted in December, followed by a limited public release in January, allowing users to explore the wallet’s core features. Through the Swipe application, customers can access services such as instant person-to-person transfers, QR code payments, personalised spending insights, shareable payment links, and simplified top-ups and withdrawals.
The app also allows users to make fast, secure and contactless payments using QR codes. Customers can send money instantly through Swipe, receive funds to their multi-currency wallet from anywhere in the world and monitor their spending through built-in financial insights. Users are able to deposit money into their Swipe wallet using debit, credit or prepaid cards issued by any bank worldwide. Funds can also be transferred easily between Swipe and Bank of Maldives accounts, allowing customers to deposit or withdraw money seamlessly.
In addition to personal use, Swipe has been designed to support businesses by enabling instant deposits into merchant accounts. This feature is intended to help businesses manage their cash flow more efficiently while offering customers a convenient digital payment option.