Bank of Maldives has officially commenced beta testing of its new digital wallet, Swipe, marking a major step in the bank’s push to modernise payments and strengthen the country’s digital financial ecosystem.
The beta phase, launched with a selected group of customers and merchants, is designed to rigorously test functionality, security, and user experience ahead of the wallet’s full public rollout scheduled for January 2026.
Once commercially launched, Swipe will allow businesses across the Maldives to register on the platform and benefit from real-time settlement of transactions. The wallet will also support instant person-to-person transfers and domestic payments, offering a faster and more convenient alternative to traditional cash and card-based transactions.
According to Mohamed Shareef, CEO and Managing Director of Bank of Maldives, the bank is now in the final stages of preparation before opening the service to the wider public. He noted that following Swipe’s initial introduction in October and the current beta testing phase, BML is working toward launching international payment services by the first quarter of 2026.
As part of its expansion roadmap, Swipe is expected to integrate with international payments partners, enabling Maldivians to receive funds from overseas directly into their wallets. The platform will also allow tourists visiting the Maldives to make payments locally, helping connect the country’s economy more closely with global markets.
Developed in line with both local and international payment standards, Swipe incorporates advanced security features and offers multi-currency accounts, easy card top-ups, and seamless transfers to Bank of Maldives accounts. Positioned as a homegrown alternative to global digital wallets, Swipe is intended to provide a comprehensive, locally tailored solution for everyday payments.
The beta testing phase is a critical milestone as Bank of Maldives prepares to scale Swipe nationwide, reinforcing its role as a key driver of digital innovation in the Maldivian banking sector.
