Ooredoo launches Mobile Money Service Pilot in the Maldives

29 February 2016 . Maldives
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Ooredoo Mobile Money Services enables customers on all local networks to manage monetary transactions simply through their mobile phones.

Ooredoo Maldives today piloted Mobile Money services providing a gateway to a world of unmatched convenience, ease and security to the people of Maldives. This innovative service enables customers to manage monetary transactions through a simple mobile phone, and has been opened to a limited number of customers during the pilot phase, but will soon be available for all customers using a local network provided that they have a valid national identification card or passport. Partnering with Maldives Islamic Bank and the Maldives Monetary Authority MMA, Ooredoo ensures the highest levels of reliability and security for customers, in accordance with all regulatory requirements.

Ooredoo Mobile Money Service enables monetary transactions to be carried out via a mWallet - a virtual account tied to the customer’s mobile number and valid identification card. The mWallet allows customers to deposit, withdraw and transfer money, top up their prepaid accounts, and pay phone bills using their mobile phone - be it through USSD or the company’s new mobile application for its mobile money service. The service will also allow customers to make easy and secure payments via mobile phone to local merchants such as iBay, Family Room Café, Riverside Café’ and Westore, who are participating in the initial pilot phase

Ooredoo customers can use mobile money services on any mobile phone using USSD service or mobile app, while non-Ooredoo customers on any local network can use the mobile money services through the mobile app.

Ooredoo Maldives CEO, Vikram Sinha said: It is a proud moment for us as we pilot mobile money services in the Maldives for the very first time. We manage over a million mobile money transactions per month across Ooredoo’s global footprint, where we have observed significant contributions to the economic and social development within the communities. The strong take-up by our customers demonstrates the demand for easy-to-use, safe, and affordable alternatives to traditional banks, and highlights the new and positive role that communication companies can play in empowering individuals. We look forward to replicating these encouraging trends in the Maldives.”

The Governor of Maldives Monetary Authority, Dr. Azeema Adam said: “The initiations by the mobile network operators to bring forth innovative payment services, is an important step in modernizing of the payment system, and the development of Maldivian financial Sector. I wish to congratulate Management team of Ooredoo Maldives on the achievement of this milestone and for positively contributing to the needs of our financial sector in achieving the objective of financial inclusion. And I wish Ooredoo Maldives a successful pilot phase and am optimistic to see a better and improved financial product that will enhance access to financial services at an affordable price.”

Complementing the service’s ease of use, customers will be able to self-register via USSD or mobile application. Customers can also choose to visit the nearest Ooredoo Experience Center or Ooredoo Mobile Money Agent Shops such as Westore, to complete the registration process. Similarly, customers can also deposit or withdraw cash at any Ooredoo Experience Center or Ooredoo Mobile Money Agent Shop. Local money transfers, top-up service and bill payments can be completed from anywhere across the world using Ooredoo’s mobile money service on customers phones.

In the coming months, Ooredoo looks to expand its mobile money portfolio with the launch of innovative new services including international money transfer, utility bill payments, and the expansion of mobile money agent and merchant portfolio to vendors across the Maldives.

For more information on Ooredoo’s Mobile Money service, please visit www.ooredoo.mv



About Ooredoo

Ooredoo is a leading international communications company delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses across markets in the Middle East, North Africa and Southeast Asia. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential. Ooredoo has a presence in markets such as Qatar, Kuwait, Oman, Algeria, Tunisia, Iraq, Palestine, the Maldives, Myanmar and Indonesia. The company was named “Best Mobile Operator of the Year” at the World Communication Awards 2013.

The company reported revenues of US$9.1 billion in 2014 and had a consolidated global customer base of more than 107 million people as of 31 December 2014. Ooredoo’s shares are listed on the Qatar Exchange and the Abu Dhabi Securities Exchange.

Twitter: @Ooredoo

Facebook: facebook.com/ooredoogroup

LinkedIn: http://www.linkedin.com/company/ooredoo


About Ooredoo Maldives

Ooredoo Maldives provides a wide range of innovative voice and data services tailored to the growing needs of today’s consumers and businesses. Guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential, Ooredoo has transformed the telecommunications industry for the people of the Maldives.

Website: ooredoo.mv

Twitter: @ooredoomaldives

Instagram: @ooredoomaldives