TechFin Maldives Receives Payment Service Provider License from MMA

TechFin Maldives Pvt Ltd, a subsidiary of Ooredoo Maldives, has officially received the Payment Service Provider (PSP) license from the Maldives Monetary Authority (MMA), marking a major milestone in the company's journey to becoming a key player in the nation's financial sector. This new license allows TechFin Maldives to operate as a licensed entity for payment services, significantly expanding its role in delivering secure and innovative digital financial solutions to the people of the Maldives.

With the acquisition of the PSP license, the widely-used digital wallet, m-Faisaa, and Ooredoo's remittance services will now be managed under TechFin Maldives. This move is part of Ooredoo Maldives' broader strategy to streamline its digital financial services, ensuring a more focused approach to offering cutting-edge fintech solutions.

m-Faisaa has been transformative in the way financial transactions are conducted in the Maldives, providing customers with a convenient, efficient way to make payments, transfer money, and access remittance services. Transitioning these services under TechFin Maldives underscores Ooredoo’s commitment to fostering a strong digital financial ecosystem that meets the growing and diverse needs of its users.

With the PSP license in hand, TechFin Maldives is poised to lead the charge in advancing fintech in the country, further solidifying its position as a trusted partner for digital financial services.