BML to promote Maldives in collaboration with UnionPay

Bank of Maldives (BML) has signed two key agreements with UnionPay and Visit Maldives Corporation to strengthen digital payment solutions in Maldives and promote the country as a leading tourist destination.

Under the agreements, BML, UnionPay and Visit Maldives will work together to market Maldives to UnionPay card members worldwide, aiming to increase tourist arrivals by highlighting the country’s unique attractions and experiences.

As part of the partnership, UnionPay has appointed Bank of Maldives as the settlement agent bank for all UnionPay card transactions conducted in Maldives. BML described the settlement framework as a major milestone that lays the foundation for a stronger and more strategic relationship with UnionPay.

BML CEO and Managing Director Mohamed Shareef said the collaboration would further enhance the bank’s digital payment ecosystem while supporting the growth of the tourism sector.

“Being appointed as the settlement agent bank for UnionPay transactions reflects the progress we are making in providing secure, reliable and convenient payment solutions for both visitors and businesses in Maldives,” he said.

UnionPay cards are already widely accepted across Maldives through BML’s card machines and merchant portal. BML currently processes transactions from all major credit and debit card networks, including American Express, Visa, MasterCard and UnionPay, as well as popular digital wallets such as BML Pay, Weixin Pay, Alipay, Apple Pay and Google Pay.

Through its merchant portal and MPOS application, BML offers comprehensive online payment solutions, allowing merchants to request real-time payments, monitor transactions securely and manage their online business operations without interruption.