TechFin Maldives Pvt Ltd - a subsidiary company of Ooredoo - has been granted the Payment Service Provider (PSP) license by Maldives Monetary Authority (MMA).

With this license now granted, TechFin Maldives will now manage Ooredoo's digital wallet M-Faisaa and remittance services.

Ooredoo Maldives said that this falls within their strategy to provide modern fintech solutions and to strengthen their digital financial services.

M-Faisaa allows customers to make transactions at petrol sheds, shops, cafe's and pay bills. It is also included in the government's Bandeyri Pay portal.

Through transferring M-Faisaa under TechFin Maldives, Ooredoo continues to work towards strengthening the digital financial ecosystem.