# Maldives — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/MV
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **BML MobilePay** QR-based payment app (2016)
- **Bank of Maldives** largest bank (365,000+ customers)
- **Static and Dynamic QR** merchant support
- **Dhiraagu Pay** and **m-Faisaa** mobile wallets
- **Multi-wallet QR** support including international wallets

## Banking landscape

### Central Bank
- **Name:** Maldives Monetary Authority (MMA)
- **Website:** https://www.mma.gov.mv/
- **Role:** Monetary policy, banking regulation

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Bank of Maldives | Commercial | BML Mobile |
| 2 | Maldives Islamic Bank | Islamic | MIB Mobile |
| 3 | State Bank of India | Foreign | SBI Mobile |
| 4 | HSBC | Foreign | HSBC Mobile |

### Market Structure
- **Bank of Maldives:** Dominant (365,000+ customers)
- **39 branches:** Nationwide presence
- **100 self-service centers:** ATM network
- **165 ATMs:** Cash access points

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| BML MobilePay | BML | QR Payment | Active (2016) |
| Dhiraagu Pay | Dhiraagu | Mobile wallet | Active |
| m-Faisaa | Ooredoo | Mobile wallet | Active |
| PayMV | BML | QR Standard | Active |

### BML Digital Ecosystem
- Online account opening
- Instant card issuance
- Wallet-to-wallet transfers
- NFC tap-to-pay
- 24/7 online banking

### Mobile Wallet Landscape
- Dhiraagu Pay (telecom)
- m-Faisaa (Ooredoo)
- BML MobilePay
- Multiple wallet interoperability

---

## QR code standards

### BML QR Payment

| Attribute | Value |
|-----------|-------|
| **Operator** | Bank of Maldives |
| **Launch** | 2016 |
| **Types** | Static + Dynamic |
| **Wallets** | BML + International |

### QR Types

**Static QR:**
- Pre-printed merchant QR
- Displayed at location
- Customer enters amount
- Single QR for all transactions

**Dynamic QR:**
- Generated on POS Terminal
- Transaction-based
- Amount pre-populated
- BML mPOS supported

### Supported Wallets for BML QR
- BML MobilePay
- Google Pay
- Apple Pay
- WeChat Pay
- UnionPay
- Alipay

### BML Mobile App QR Features
- PayMV QR Generation
- QuickPay
- Merchant QR scanning
- NFC tap payments

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| BML Mobile | BML | Yes | Full banking |
| BML MobilePay | BML | Yes | QR payments |
| Dhiraagu Pay | Dhiraagu | Yes | Wallet |
| m-Faisaa | Ooredoo | Yes | Wallet |
| Payer | Various | Yes | Bills, recharge |

### BML MobilePay
- QR-based payments (2016)
- Merchant payments
- P2P transfers
- NFC support

### Payment Methods
- QR code scanning
- Mobile number payment
- NFC tap-to-pay
- Delivery service payments

### Payer App
- Multi-purpose payment app
- Dhiraagu/Ooredoo bills
- Medianet & ROL bills
- Airtime recharge
- Mobile wallet cash-in

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [BML QR](https://docs.barcoder.ai/docs/payments/MV/bml-qr) | Payment QR | BML | Active | — |
| [PayMV](https://docs.barcoder.ai/docs/payments/MV/paymv) | QR Standard | BML | Active | — |
| [Dhiraagu Pay](https://docs.barcoder.ai/docs/payments/MV/dhiraagu-pay) | Mobile wallet | Telecom | Active | — |

## Sources

- [BML - Mobile Banking App](https://www.bankofmaldives.com.mv/personal/ways-to-bank/mobile-banking-app)
- [Wikipedia - Bank of Maldives](https://en.wikipedia.org/wiki/Bank_of_Maldives)
- [BML - Merchant Portal & mPOS](https://www.bankofmaldives.com.mv/merchant-portal-mpos)
- [BML - FAQ Internet Banking](https://www.bankofmaldives.com.mv/faq-bml-internet-banking-and-mobile-banking)
- [BML - FAQs](https://www.bankofmaldives.com.mv/faqs)
- [App Store - Payer](https://apps.apple.com/us/app/payer-payments-for-maldives/id1381394780)
- [Transfi - Maldives Payment Methods](https://www.transfi.com/blog/popular-local-payment-methods-and-solutions-in-maldives)
- [BML - Merchant Services](https://www.bankofmaldives.com.mv/business-and-sme/business-banking-services/merchant-services)
- [App Store - BML Mobile Banking](https://apps.apple.com/us/app/bml-mobile-banking/id975025664)
- [Edition.mv - BML QR Plans](https://edition.mv/news/22695)

## Full country report

[MV-maldives.md](https://docs.barcoder.ai/docs/payments/MV)