Bank of Maldives (BML), on Tuesday, has announced the commencement of the beta testing phase for its new digital wallet, Swipe.
The digital wallet was inaugurated by President Dr. Mohamed Muizzu on October 29th. In a meeting with Small and Medium Enterprises (SMEs) on December 17th, the President hailed Swipe as the “Maldivian version of PayPal”.
According to BML, the 100 percent Maldivian-developed digital wallet is a multicurrency digital wallet that offers seamless, instant and secure payments for Maldives and beyond.
The trial phase with a selected group of customers and merchants is intended to ensure a smooth user experience ahead of the public launch scheduled for January 2026.
Starting in January, businesses will be able to register for Swipe, allowing real-time settlement of transactions. The wallet will also support instant person-to-person (P2P) transfers and domestic payments within the Maldives.
BML’s CEO and Managing Director, Mohamed Shareef, said that the bank is making final preparations for the public launch of Swipe. He added that following its successful introduction in October and the beginning of the beta testing phase, the team is working to enable payment services and international transactions by the first quarter of 2026.
 “As Swipe expands through international payments partnerships in the first quarter, it will connect the Maldives to the global market by allowing Maldivians to receive payments from abroad to Swipe and further allowing payment acceptance for tourists travelling to the Maldives,” he detailed.
Designed with advanced security features and in compliance with both local and international payment standards, Swipe offers multi-currency accounts, easy card top-ups, and seamless transfers to BML accounts. The digital wallet is positioned as a Maldivian alternative to other global wallets.