The Maldives is taking a major leap into digital financial services with the launch of ‘Swipe’, a multicurrency digital wallet by Bank of Maldives (BML), while President Dr Mohamed Muizzu announced the imminent arrival of PayPal in January 2026.
Unveiled in October, Swipe enables fast, secure transactions both in the Maldives and abroad, offering contactless QR payments, multi-currency transfers, and instant fund deposits via global debit or credit cards. The app also provides spending analytics, catering to businesses by streamlining cash flow management.
President Muizzu, fulfilling a campaign pledge to modernise digital payments, met with small and medium enterprises (SMEs) this week, emphasising the government’s commitment to expanding fintech solutions.
"We are hopeful that PayPal services will be operational by January," he said, highlighting efforts to integrate the global payment platform.
Meanwhile, Swipe, developed entirely by Maldivians, is set to undergo beta testing this month, with plans to connect to international networks by the first quarter of 2026—allowing users to transfer funds abroad without extra fees.
The President praised Swipe as a homegrown innovation poised to showcase the nation’s fintech capabilities globally.
This dual rollout marks a transformative step for the Maldives’ digital economy, empowering businesses and consumers alike with seamless, borderless transactions.