Bank of Maldives (BML) has introduced BML SplitPay, a new service that enables eligible credit card customers to convert qualifying purchases into convenient monthly instalments.
The service is designed to provide greater flexibility in managing credit card expenses by allowing customers to spread payments over a period ranging from three to 24 months.
Under SplitPay, purchases of MVR 1,500 or more can be converted into instalment plans, helping customers better manage their finances, particularly when making higher-value purchases.
The facility is available to customers with an approved BML SplitPay limit and can be used at participating merchants. Transactions made through POS terminals using BML-issued American Express, Visa, or Mastercard credit cards can be converted into instalment payments almost immediately after the purchase.
BML said the service aims to make budgeting easier by giving customers more control over how they repay their credit card spending.
Commenting on the launch, BML CEO and Managing Director Mohamed Shareef said SplitPay provides customers with a more convenient way to manage payments while improving financial planning.
“This service makes it easier for customers to spread payments over time, offering greater flexibility and helping them better manage their personal budgets,” he said.
According to the bank, SplitPay forms part of its ongoing efforts to expand its range of digital payment solutions and deliver innovative financial services tailored to customers’ evolving needs.
