BML Enables Transactions in Digital Wallets

The Bank of Maldives (BML) has unblocked previously blocked foreign merchants, including money transfer platforms and digital wallets.

BML CEO Karl Stumke said the change was recognized as important to help freelancers and small businesses when they rely on foreign income to support their daily livelihoods and is an addition to improving the quality of service provided to customers by banking and payment services.

BML said yesterday’s change will enable customers to send and receive money through these platforms using the bank’s Visa USD credit card or MasterCard prepaid USD travel card.

In addition to the cards, you can also use your BML debit card, which has a US dollar account as your primary account for sending money.

With the availability of digital wallets, e-wallet services will be expanded to benefit young entrepreneurs.