Bank of Maldives (BML) has commenced the beta testing phase of its new digital wallet, Swipe, with a selected group of customers and merchants. 

In a statement, BML said the beta phase was launched to refine user experience and system performance ahead of the official rollout. According to the bank, the testing process includes participation from both individual customers and businesses, with feedback being used to finalise the platform.

BML stated that from January 2026, businesses will be able to register for Swipe and access real-time settlement for transactions. During the same period, the service will open to customers, enabling instant person-to-person transfers and domestic payments within the Maldives.

The bank noted that preparations are underway to open Swipe to the public, following the development work initiated after the service’s earlier launch phase. BML’s CEO and Managing Director, Mohamed Shareef, said the beta testing period will lead into the introduction of payments and international transactions, with the expansion expected to strengthen digital financial services and support the bank’s growth in foreign markets.

BML stated that it aims to expand Swipe services abroad by the first quarter of 2026. The bank is set to partner with payment networks to facilitate international withdrawals and payments, allowing Maldivians to access funds overseas and tourists to make digital payments to Maldivian businesses.

The bank highlighted several user features for Swipe, including instant transfers, the ability to fund the wallet through debit, credit, or prepaid cards issued by any bank, expense tracking, and withdrawals to BML accounts. The wallet is also expected to support multi-currency accounts and foreign transactions once the platform expands internationally.