BML’s Swipe receives huge support from Addu within short span of time

BML launches Swipe in Addu City on March 11, 2026. (Photo/BML)

Bank of Maldives has officially introduced its locally developed digital wallet, Swipe, to the Addu City market. The platform, which has already seen near-universal adoption among local businesses, is designed to facilitate seamless multi-currency transactions for both domestic and international users. By leveraging the wallet, merchants benefit from instant account deposits, eliminating typical banking delays. Furthermore, the service positions itself as a competitive alternative to global platforms by offering significantly lower transaction fees for tourists and providing a streamlined financial tool for freelancers and online entrepreneurs.

Swipe is a 100 percent Maldivian-developed digital wallet compliant with international payment standards.
Businesses in Addu City receive instant payments directly to their accounts regardless of banking hours.
The platform offers a reduced transaction fee of one percent for tourists, compared to the industry average of over 2.5 percent.
Users can fund the wallet using BML accounts or any global credit, debit, or prepaid card.

Almost all businesses in Addu City have now enrolled in Bank of Maldives (BML)’s digital wallet, Swipe.

The 100 percent Maldivian-developed multi-currency digital wallet was officially launched in Addu on Wednesday night. The inauguration ceremony, held in Hithadhoo, was attended by Homeland Security Minister Ali Ihusan and BML’s CEO and Managing Director Mohamed Shareef.

Speaking at the ceremony, Shareef noted that Swipe offers instant transfers, facilitates both local and international transactions and can be funded through BML accounts or via any credit, debit, or prepaid card issued by any bank in the world.

BML's CEO and Managing Director Mohamed Shareef speaks at the launch of Swipe in Addu City on March 11, 2026. (Photo/BML)

“Businesses will have the money instantly deposited to their accounts the moment customers pay via Swipe. This means that any payment made via Swipe will be instantly deposited, regardless of whether it is a working day or not,” he said.

Shareef noted that Swipe is also now the official wallet of tourists who visit the Maldives. He said that while transactions made by tourists via other wallets and credit cards are subject to a charge of over a 2.5 percent, transactions made via Swipe is subject to only one percent charge.

“PayPal or any other digital wallet imposes a charge for payments in the Maldives. Sometimes, they charge USD 15 for USD 100 transactions. But money added from overseas to personal wallets via Swipe will not be subject to any fees,” he said.

BML launches Swipe in Addu City on March 11, 2026. (Photo/BML)

Shareef said that Swipe is also a convenient wallet for freelancers and people with online-based businesses to secure payments from overseas clients.

Swipe is a 100 percent Maldivian-developed multi-currency digital wallet, built in compliance with domestic regulatory frameworks and international payment industry standards.

It offers users access to a range of core features, including instant person-to-person transfers, fast QR payments, personalized spending insights, shareable payment links, and simplified top-ups and withdrawals.