Fahi Pay signs agreement to connect with national payment system Payveer

An agreement has been signed between digital wallet Fahi Pay and the Maldives Monetary Authority (MMA) to connect with the national payment system Payveer. With this agreement, Fahi Pay becomes a non-bank second-tier service provider linked to the Payveer service. The MMA stated that under the agreement, Fahi Pay will be connected to the Payveer service, and following the completion of the first phase of required tests, preparations are underway to begin providing the service. Through "Payveer" transfer, money can be deposited from one bank to another within seconds, and through "Payveer" request, bills can be sent to individuals and businesses for financial transactions. So far, banks in the country and various digital wallets involved in financial transactions have connected to this service, including Dhiraagu. The MMA is working to expand the Payveer service. Efforts to connect Payveer with India's Unified Payments Interface 'UPI' have been completed, and the service has already begun. In the second phase, arrangements will be made to pay businesses using QR codes. The MMA has also introduced a dedicated hotline for the Payveer service and Payment Maldives services, with the aim of improving the quality of payment services and quickly resolving issues faced by service users.