BML Launches Beta Testing for 'Swipe', President Muizzu Hails It as Maldivian PayPal

Bank of Maldives (BML) has announced the commencement of beta testing for its new digital wallet, 'Swipe'. The wallet, inaugurated by President Dr. Mohamed Muizzu on October 29th, has been dubbed by the President as the 'Maldivian version of PayPal'. Swipe is a multicurrency digital wallet designed to offer seamless, instant, and secure payments both within the Maldives and beyond. The beta testing phase involves a selected group of customers and merchants to ensure a smooth user experience ahead of its public launch scheduled for January 2026. Starting in January, businesses will be able to register for Swipe, enabling real-time settlement of transactions. The wallet will also support instant person-to-person (P2P) transfers and domestic payments within the Maldives. BML’s CEO, Mohamed Shareef, stated that the bank is finalizing preparations for the public launch and plans to enable international transactions by the first quarter of 2026. Swipe, equipped with advanced security features, aims to connect the Maldives to the global market, allowing Maldivians to receive payments from abroad and facilitating payment acceptance for tourists visiting the Maldives.