Ooredoo to allow overseas transfers via m-Faisaa

Ooredoo Maldives has initiated a test trial of a new product which will allow customers to send money on their Ooredoo m-Faisaa wallet to anywhere in the world.

In a press conference on Tuesday morning, Ooredoo Maldives’ Chief Commercial Officer Hussain Niyaz said that the trial was being held in collaboration with Maldives Monetary Authority (MMA).

Select Ooredoo customers are involved in the trial.

“Our internal tests haven’t identified any issues so far. We hope the trial will go without any issues, and we will be able to introduce this product to our customers soon,” he said.

Niyaz said that with the new product, customers will be able to send money anywhere in the world. He said that the service charge will be lower than that offered by other service providers.

With the new product, customers will be able to convert the Maldivian Rufiyaa in their m-Faisaa wallet to the currency of the country they wish to send the money to. The money can be sent to the bank account of the recipient, a pickup point in the country, a mobile wallet, or house.

The service requires little hassle. Customers will need to log into the m-Faisaa app and submit their information as well as that of the recipient, and the type of currency.

Ooredoo Maldives said that while the service will have a daily limit, it will be higher than the current bank limits.

Ooredoo currently provides the service in several countries.

Ooredoo Maldives received international remittance license from MMA in January this year.