The Maldives Monetary Authority (MMA) has granted Techfin Maldives Pvt Ltd, a subsidiary of Ooredoo Maldives, a Payment Service Provider (PSP) license.

Ooredoo today announced that Techfin Maldives has been granted the opportunity to operate as a payment service licensee, enabling the company to play its role in providing innovative and secure digital financial solutions to the people.

"With this new license, Ooredoo's widely used digital wallet M-Faisaa and remittance services will now be managed under Techfin Maldives. This is in line with Ooredoo Maldives' strategy to further strengthen Ooredoo Maldives' digital financial services and provide cutting-edge fintech solutions," the company said.

Ooredoo's M-Faisaa platform has revolutionized financial transactions. M-Faisaa has provided customers with an easy and robust way to pay, transfer and remit remittances.

M-Faisaa is available for paying bills, petrol station payments, bill payments, and cafes as well as payments at BandariPay.

"By transferring these services under Techfin Maldives, Ooredoo is further strengthening its commitment to meet customer needs and build a robust digital financial ecosystem," Ooredoo said.