BML, UnionPay and Visit Maldives partner to boost tourism and digital payments

Bank of Maldives (BML), UnionPay and Visit Maldives have signed an agreement to collaborate on joint marketing initiatives aimed at promoting the Maldives as a travel destination while strengthening the country’s digital payment ecosystem.

Under the partnership, the three parties will jointly promote the Maldives among UnionPay cardholders through coordinated marketing campaigns highlighting the country’s unique tourism offerings, as part of broader efforts to attract more visitors.

As part of the agreement, BML has also been appointed the settlement agent bank for UnionPay transactions in the Maldives, enabling local settlement in Maldivian rufiyaa (MVR). The new framework is expected to pave the way for deeper cooperation, including opportunities for UnionPay card issuance in the country.

BML CEO and Managing Director Mohamed Shareef said the partnership would strengthen both the national digital payment landscape and support the tourism sector.

“We are pleased to partner with Visit Maldives and UnionPay on this important initiative, which strengthens both our digital payment ecosystem and our efforts to support the tourism industry. The Bank being appointed as the settlement agent bank is further testament to our continued efforts to deliver secure, convenient and seamless payment solutions,” he said.

BML currently accepts UnionPay cards through its point-of-sale terminals and merchant portal. The bank supports payment processing across major international card networks, including American Express, Visa and Mastercard, as well as digital wallets such as BML Pay, WeChat Pay, Alipay, Apple Pay and Google Pay.

Through its Merchant Portal and mPOS App, BML provides merchants with online payment solutions, enabling real-time payment requests, transaction monitoring and seamless management of online store operations.