Pomelo Pay, Bank of Maldives to help reinvigorate struggling sectors

Monday 19 April 2021 13:17 CET | News

UK-based digital payments startup Pomelo Pay has partnered with the Bank of Maldives (BML) to expand its COVID-19 proof payment support to hospitality and tourism businesses in the Maldives.

The move is intended to help companies come back stronger in 2021 as restrictions loosen, while still offering a selection of new products that facilitate COVID-safe payments. Pomelo Pay has provided a Payments-as-a-Service (PaaS) platform for BML since October 2019, allowing the bank to offer its business customers innovative payments solutions. As a result of this partnership, businesses who bank with BML have been able to access Pomelo Pay’s full suite of contactless payment and analytics tools. This includes acquiring international schemes and wallets, as well as domestic payment methods. 

The partnership enables BML to unlock new revenue streams and generate cost-savings by using Pomelo Pay’s scalable API. This converts manual work into fully automated processes and creates a global digital ecosystem with great customer experience for their end users. New features in the expanded offering will permit BML business customers to increase revenues from international transactions with multi-currency payments; upgrade their compliance systems and processes with the new compliance module; draw actionable insights from enhanced data analytics; take pre-authorisation payments by sending payment requests; bolster their virtual presence with an online shop feature; and process contactless payments with mobile phones using improved NFC technology.

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Keywords: partnership, digital payments, digital banking, Payments-as-a-Service, fintech
Categories: Banking & Fintech
Countries: Maldives
This article is part of category

Banking & Fintech