Ooredoo Subsidiary Receives PSP License to Oversee M-Faisaa Services

TechFin Maldives Pvt Ltd, a subsidiary of Ooredoo Maldives, has been granted a Payment Service Provider (PSP) license by the Maldives Monetary Authority (MMA). With this newly acquired license, TechFin Maldives will take over the management of Ooredoo’s popular digital wallet service, M-Faisaa, along with its remittance operations.

Ooredoo Maldives stated that this move aligns with its broader strategy to enhance modern fintech solutions and solidify its position in the digital financial services sector. The transition of M-Faisaa to TechFin Maldives reflects the company’s ongoing efforts to bolster the digital financial ecosystem in the Maldives.

M-Faisaa offers a variety of services to customers, including the ability to make payments at petrol stations, retail outlets, cafés, and for utility bills. Additionally, it is integrated into the government's Bandeyri Pay portal, further cementing its role as a key player in the digital payment space.

The transfer of M-Faisaa to TechFin Maldives is expected to further improve and expand the services offered, creating more seamless and secure digital payment solutions for the Maldivian market.

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