Minister of Economic Development and Trade, Mohamed Saeed, has revealed plans to introduce India’s international card payment network, RuPay, within Maldives.
Minister Saeed conveyed that the card will be formally utilised for transactions denominated in rupees within Maldivian territory.
“We are currently engaged in discussions with India to explore avenues for facilitating payments in rupees,” he stated.
RuPay, an initiative by the Reserve Bank of India (RBI), has been operational for the past seven years, offering dedicated cards tailored to various demographics.
The card enjoys usage in numerous countries globally, with the Indian government spearheading efforts to streamline rupee-based transactions with select regional partners. Notably, last year saw the RBI collaborate with the UAE to enable payments through the rupee.
