Bank of Maldives (BML) has introduced PayMV QR codes, enabling customers to transfer funds instantly and securely through the BML Mobile Banking app. The new feature marks a major step in modernizing digital payments across the Maldives.
Quickly and securely send and receive funds through QR codes! ⚡️
Mobile app update coming 🔜
Version 2.1.36.320 pic.twitter.com/YBiwfpFJSR— Bank of Maldives (@bankofmaldives) November 11, 2025
With the launch, BML becomes the first financial institution in the country to meet the Maldives Monetary Authority’s (MMA) requirements under its Maldives Payment System Development (MPSD) initiative. The milestone underscores BML’s leadership in advancing payment technologies and delivering greater convenience to customers.
Commenting on the development, BML CEO and Managing Director Mohamed Shareef said, “All payment providers are mandated by the Central Bank to comply with the new payment standards. As the largest financial institution and payment provider in the country, we are immensely proud to take the first step in implementing this project. From today, customers can send money directly by scanning a QR code or receive funds by generating one through the app.”
The PayMV QR functionality eliminates the need for manual account details, offering a faster, error-free method to send and receive money.
As the nation’s leading bank, BML operates 42 branches across all 20 atolls, along with 202 Self Service Banking Centres and 262 ATMs, supported by a growing suite of digital banking services. The Bank continues to strengthen its role in building a cashless, technology-driven financial ecosystem for communities nationwide.
