Bank of Maldives (BML) has rolled out new Mastercard Business Prepaid cards.

The Mastercard Business Prepaid card was launched during an event held at Hotel Jen on Tuesday.

It was launched as part of the country’s national bank’s strategy to foster financial inclusion through secure digital payments.

BML revealed that Mastercard Business Prepaid card is a safer and more convenient alternative for businesses to manage their cash requirements and allows businesses to easily track purchases and keep everyday small expenses separate.

The card is also a practical payment solution for employees of small businesses and offers greater control in managing small overheads and staff expenses.

BML revealed that the new card is available in both Maldivian Rufiyaa and U.S. dollars, and both cards are accepted on all local ATMs, POS machines and Payment Gateways. The USD card is also accepted on foreign POS machines and Payment Gateways.

The card has a daily transaction limit of MVR 200,000 or USD 50,000 and can be reloaded up to MVR 500,000 or USD 100,000.

The card balance and purchases can be viewed on Internet Banking and Mobile App wallet, for convenient tracking.

CEO and Managing Director of BML Mohamed Shareef expressed excitement in collaborating with Mastercard to launch an innovative alternative for small businesses.

He said that the new Mastercard Business Prepaid card is a significant step in continuing support for the business community and their evolving needs.

BML remains committed to support individuals, businesses and communities across the nation, with a nationwide network of 39 branches across all 20 atolls, 93 self-service banking centers, 148 ATMs, agent banking services and a full suite of digital banking services.