Bank of Maldives (BML) has introduced BML SplitPay, a new instalment payment solution that allows credit cardholders to spread the cost of eligible purchases over a period of up to 24 months.

The service enables customers to convert purchases of MVR 1,500 or more into monthly instalments ranging from three to 24 months, providing greater flexibility in managing higher-value transactions.

BML SplitPay is available to customers with an approved SplitPay limit and can be used at participating merchants. Customers making payments with American Express, Visa or Mastercard credit cards can instantly convert eligible transactions into instalment plans.

Chief Executive Officer and Managing Director Mohamed Shareef said the new solution offers customers greater flexibility in how they pay for their purchases.

"With BML SplitPay, we are giving customers greater flexibility in how they pay for their purchases. This solution makes it easier to spread payments into manageable instalments, helping customers plan their finances with greater confidence and convenience," he said.

The bank said the launch reflects its continued commitment to expanding innovative, digital-first payment solutions tailored to customers' needs.

More information on BML SplitPay is available on the Bank of Maldives website.