Payments/MV
Maldives
ISO MV · 3 schemes
Summary
- BML MobilePay QR-based payment app (2016)
- Bank of Maldives largest bank (365,000+ customers)
- Static and Dynamic QR merchant support
- Dhiraagu Pay and m-Faisaa mobile wallets
- Multi-wallet QR support including international wallets
Banking landscape
Central Bank
- Name: Maldives Monetary Authority (MMA)
- Website: https://www.mma.gov.mv/
- Role: Monetary policy, banking regulation
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Bank of Maldives | Commercial | BML Mobile |
| 2 | Maldives Islamic Bank | Islamic | MIB Mobile |
| 3 | State Bank of India | Foreign | SBI Mobile |
| 4 | HSBC | Foreign | HSBC Mobile |
Market Structure
- Bank of Maldives: Dominant (365,000+ customers)
- 39 branches: Nationwide presence
- 100 self-service centers: ATM network
- 165 ATMs: Cash access points
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| BML MobilePay | BML | QR Payment | Active (2016) |
| Dhiraagu Pay | Dhiraagu | Mobile wallet | Active |
| m-Faisaa | Ooredoo | Mobile wallet | Active |
| PayMV | BML | QR Standard | Active |
BML Digital Ecosystem
- Online account opening
- Instant card issuance
- Wallet-to-wallet transfers
- NFC tap-to-pay
- 24/7 online banking
Mobile Wallet Landscape
- Dhiraagu Pay (telecom)
- m-Faisaa (Ooredoo)
- BML MobilePay
- Multiple wallet interoperability
QR code standards
BML QR Payment
| Attribute | Value |
|---|---|
| Operator | Bank of Maldives |
| Launch | 2016 |
| Types | Static + Dynamic |
| Wallets | BML + International |
QR Types
Static QR:
- Pre-printed merchant QR
- Displayed at location
- Customer enters amount
- Single QR for all transactions
Dynamic QR:
- Generated on POS Terminal
- Transaction-based
- Amount pre-populated
- BML mPOS supported
Supported Wallets for BML QR
- BML MobilePay
- Google Pay
- Apple Pay
- WeChat Pay
- UnionPay
- Alipay
BML Mobile App QR Features
- PayMV QR Generation
- QuickPay
- Merchant QR scanning
- NFC tap payments
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| BML Mobile | BML | Yes | Full banking |
| BML MobilePay | BML | Yes | QR payments |
| Dhiraagu Pay | Dhiraagu | Yes | Wallet |
| m-Faisaa | Ooredoo | Yes | Wallet |
| Payer | Various | Yes | Bills, recharge |
BML MobilePay
- QR-based payments (2016)
- Merchant payments
- P2P transfers
- NFC support
Payment Methods
- QR code scanning
- Mobile number payment
- NFC tap-to-pay
- Delivery service payments
Payer App
- Multi-purpose payment app
- Dhiraagu/Ooredoo bills
- Medianet & ROL bills
- Airtime recharge
- Mobile wallet cash-in
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| BML QR | Payment QR | BML | Active | — |
| PayMV | QR Standard | BML | Active | — |
| Dhiraagu Pay | Mobile wallet | Telecom | Active | — |
Sources
- BML - Mobile Banking App
- Wikipedia - Bank of Maldives
- BML - Merchant Portal & mPOS
- BML - FAQ Internet Banking
- BML - FAQs
- App Store - Payer
- Transfi - Maldives Payment Methods
- BML - Merchant Services
- App Store - BML Mobile Banking
- Edition.mv - BML QR Plans