BML launches beta testing of international wallet “Swipe”

Bank of Maldives (BML) has launched the beta testing phase of its international digital wallet, Swipe.

The bank said today that selected customers and businesses have been included in the beta testing phase to fine-tune the service ahead of its public launch.

BML described the testing phase as a critical step to ensure the platform performs efficiently before it is made available nationwide.

BML will begin registering businesses for Swipe next month, enabling merchants to receive instant payments for transactions made through the wallet. The service will also be opened to customers next month, allowing users to send and receive money instantly between Swipe accounts.

BML CEO and Managing Director Mohamed Shareef said the bank is currently in the final stages of preparation before opening Swipe to the public.

“After successfully launching the service in October, we are now in the beta testing phase and working towards launching payments and international transactions early next year,” Shareef said.

He added that in the first quarter of next year, Swipe will be expanded through international partnerships to connect the Maldives to the global market. BML also plans to extend Swipe services overseas in the first half of next year by partnering with leading global payment networks.

According to BML, the expansion will allow locals to receive money from abroad through Swipe, while tourists visiting the Maldives will be able to make payments at local businesses. Locals will also be able to use Swipe for payments while overseas.

“With this, Swipe will become an essential tool for tourists visiting the Maldives, locals transacting abroad, and foreign businesses doing business with the Maldives,” the bank said.

Swipe is a Maldivian-developed digital wallet equipped with advanced security features and compliant with both domestic and international regulations. The wallet allows customers to send money instantly, receive funds into a multi-currency account from any country, and track spending through built-in analytics.

Customers can deposit funds into their Swipe wallet using debit, credit, or prepaid cards issued by any bank worldwide. Funds can also be transferred to BML accounts and withdrawn easily, the bank said.