What We Do

Our Products

The company was established as a separate legal entity, in line with the strategic vision of the MMA recognizing the critical role of efficient and inclusive payment infrastructure in fostering financial inclusion and driving economic growth. As its primary objective, Payment Maldives assumes the responsibility for the operation and development of key retail payment systems – Favara and the Automated Clearing House (ACH).

Payment System Development Projects
Beyond operating the nation’s core retail payment systems, Payment Maldives is shaping the future of digital financial services in the Maldives.
PayMV QR
PayMV QR is the National QR Code Standard, introduced by the MMA to drive the adoption of Favara and other digital payment solutions in the Maldives.
Automated Clearing House (ACH)
The ACH is a session-based clearing system for processing inter-bank Direct Credits and Cheque Imaging and Truncation. Settlement in the Maldives Real-Time Gross Settlement (MRTGS) System operated by
Favara
Favara is the Instant Payment System, initially implemented and operated by the MMA, to facilitate fast, convenient, and secure payment services in the Maldives.