Bank of Maldives (BML) has launched BML SplitPay, a new credit card payment solution that allows customers to spread the cost of eligible purchases into affordable monthly instalments, offering greater flexibility in managing personal finances.
The service was unveiled on Thursday at the Maldives Financial Expo 2026, which opened at Hulhumalé Central Park. Organised by the Maldives Monetary Authority (MMA), the three-day expo brings together key players from the country’s financial sector to showcase the latest banking, insurance and fintech innovations.
BML SplitPay is available to eligible BML credit cardholders and enables purchases of MVR 1,500 and above to be converted into instalment plans of 3, 6, 12, 18 or 24 months. The facility carries a 9% finance rate, allowing customers to spread payments over time while continuing to use their credit cards for everyday spending.
Using the service is straightforward. Customers simply shop at participating merchants, inform the cashier they wish to use SplitPay, complete the transaction with their BML credit card, choose their preferred repayment period, and enter their PIN. The first instalment will appear on the next monthly credit card statement.
Cardholders can also track their SplitPay purchases through their monthly credit card statements, which display the instalment amount, repayment progress, and applicable finance charges. The service can be used for a wide range of purchases, including electronics, furniture, services and experiences, with more merchants expected to join the network over time.
Speaking at the launch, BML Chief Executive Officer and Managing Director Mohamed Shareef said the new facility would make it easier for customers to manage their finances.
“This facility will enable customers to split their payments, providing greater flexibility in managing and budgeting their finances.”
He added that the introduction of BML SplitPay reflects the bank’s ongoing commitment to delivering innovative payment solutions through digital platforms that are tailored to meet customers’ evolving needs.
The launch of BML SplitPay further expands BML’s portfolio of digital banking services as the bank continues to introduce new products aimed at enhancing convenience and financial flexibility for its customers.
