BML signs agreement with UnionPay and Visit Maldives to promote tourism

Bank of Maldives (BML), UnionPay and Visit Maldives Corporation have signed an agreement to strengthen Maldives’ digital payment services and jointly promote the country as a preferred travel destination among UnionPay cardholders.  

Under the agreement, the three parties will collaborate on marketing campaigns highlighting Maldives’ unique offerings, with the aim of attracting more tourists. UnionPay has also appointed BML as the settlement agent bank for transactions made with UnionPay cards in Maldives. The local settlement framework will serve as the foundation for deeper cooperation, including opportunities for UnionPay card issuance.  

BML CEO and Managing Director Mohamed Shareef said the partnership will further strengthen the digital payment ecosystem and support tourism promotion efforts. “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.  

UnionPay cards are already accepted at BML’s point‑of‑sale terminals and merchant portal. The bank processes transactions from all major card networks including American Express, Visa, Mastercard and UnionPay, as well as digital wallets such as BML Pay, WeChat Pay, Alipay, Apple Pay and Google Pay.  

BML has previously signed agreements with China’s WeChat Pay and Alipay to promote Maldives.  

Maldives has so far welcomed 2.12 million tourists this year, with China contributing the largest share at 322,777 arrivals.