The Bank of Maldives (BML) has officially launched its Mastercard Business Prepaid card at an event held today at Hotel Jen, as part of its ongoing strategy to promote financial inclusion through secure digital payment solutions.

This new offering provides businesses with a safer and more convenient method to manage their cash flow and expenses.

The Mastercard Business Prepaid card is designed to help businesses easily track purchases while keeping everyday small expenses separate. It serves as a practical payment solution for employees of small businesses, granting them greater control over managing operational costs and staff expenditures.

Available in both Maldivian Rufiyaa (MVR) and US Dollars (USD), the card can be used locally at ATMs, point-of-sale (POS) machines, and payment gateways, with the USD card also accepted at foreign POS systems. It features a daily transaction limit of MVR 200,000 or USD 50,000, and users can reload the card up to MVR 500,000 or USD 100,000. Cardholders can conveniently track their balance and purchases through BML's Internet Banking and Mobile App wallet.

“We are excited to once again collaborate with our card partner Mastercard to launch an innovative alternative for small businesses. Our new Mastercard Business Prepaid card is a significant step in continuing our support for the business community and their evolving needs,” Mohamed Shareef, CEO and Managing Director of Bank of Maldives, said.

With a robust network comprising 39 branches across all 20 atolls, 93 Self Service Banking Centres, and 148 ATMs, along with a comprehensive suite of digital banking services, the Bank of Maldives remains committed to supporting individuals, businesses, and communities throughout the country.