Bank of Maldives (BML) has unblocked all merchants on PayPal, reversing a recent decision to block selected PayPal merchants following a significant increase in unauthorized transactions.
BML had blocked PayPal merchants to minimize exposure of the bank’s customers to fraudulent transactions.
The bank announced on Thursday that it has unblocked all PayPal merchants, noting that blocking the merchants resulted in customers facing an issue in linking their BML cards to their PayPal accounts.
“We have now unblocked all merchants on PayPal and customers can now add BML cards to their PayPal account,” announced the bank in a statement.
BML said it will continue to monitor for fraudulent transactions, and take measures to protect customers and block merchants where necessary, if similar incidents continue to arise in the future.
BML said that their cards are protected by 3D-secure authentication to validate purchases, prevent unauthorized use and prevent financial loss for customers.
The bank has advised customers to review card and account activity for transactions they do not recognize and inform the bank of suspicious transactions.
Unauthorized transactions must be disputed no longer than 30 days after the date of the transaction.