Bank of Maldives (BML) on Thursday introduced a new mobile Point-of-Sale (mPOS) payment solution that will allow retailers to transform smartphones into payment terminals to accept electronic payments.
The new mPOS App accepts debit, credit and prepaid card payments, and a range of digital wallets from customers anytime, anywhere. This solution offers the benefit of a simple, safe and secure payment experience for merchants.
Along with mPOS, BML also introduced the Merchant Portal, a service that can be accessed through desktops and allows merchants to send payment links, check transaction status and generate simplified reports.
These new payment solutions allow customers to make payments by scanning the QR Code at retailers or pay for goods from anywhere by clicking on the payment link which merchants send through message, online messaging apps or email.
"In this digital age, the introduction of these new and innovative platforms will facilitate simpler and smarter electronic payments on the go. We are confident that they will be beneficial to our merchants, and consequently to their customers across the country", CEO and Managing Director of BML Tim Sawyer said at the launching ceremony.
"We are very excited that the technology will not only enhance the payment experience for consumers but will also pave the way towards a cashless society".
According to BML, the bank’s Point-of-Sale network accepts all contactless payments including cards and digital wallets. Visitors to the Maldives will now be able to pay from their Ali Pay, Google Pay and Apple Pay wallets.
Bank of Maldives was the first to introduce internet and mobile banking, self-service banking and contactless payments for the first time in the country.
The bank also continues to improve customer experience with innovative technological solutions and supports individuals, businesses and communities with the ‘Aharenge Bank’ investment program.