Minister of Economic Development and Trade Mohamed Saeed has announced that RuPay cards will be introduced in the Maldives before the end of August. The initiative is part of the government's broader effort to establish a creator economy in the country.
Speaking to PSM News, Minister Saeed outlined the significant steps taken to foster a creator economy in the Maldives during the first eight months of the current administration. He highlighted that the introduction of the Indian RuPay Card is scheduled for August, alongside the development of a national payment platform and integration with major regional markets, with strong support from India.
Additionally, Minister Saeed noted the presence of numerous producers in the Maldives and the income potential from various social media platforms. He also pointed out that the current system lacks convenient payment methods, hindering the ability to monetise content.
Furthermore, Minister Saeed acknowledged the challenges faced by emerging creators and digital e-commerce businesses in the Maldives. At the direction of President Dr. Mohamed Muizzu, he has engaged with stakeholders to bring PayPal services to the Maldives and is now seeking assistance from the United States (US) government.
Moreover, Minister Saeed said that WeChat Pay is now operational in the Maldives. He said that dollar wallets for the Bank of Maldives (BML) and the Maldives Islamic Bank (MIB) have been activated. He also said that the government has made significant progress by engaging with banks and starting discussions with regional offices to optimise the use of TikTok in the Maldives, with support from the Chinese government.