Mastercard, Government of Maldives Come Together for the ‘Digital Country Partnership’
October 7, 2025 | Mumbai, India- First initiative of its kind in the region.
- Will involve collaborative efforts by Mastercard, National Centre for Information Technology and Bank of Maldives.
Mastercard has entered a strategic Memorandum of Understanding (MoU) with the Government of Maldives to establish a ‘Digital Country Partnership’ (DCP), aimed at accelerating the nation’s digital transformation. This marks Mastercard’s first DCP in the region and lays the groundwork for a forward-looking journey towards a digitally empowered Maldives.
The collaboration positions Mastercard as a key contributor to the country’s digital future, fostering innovation, financial inclusion, and sustainable economic growth.
Underlining the significance of this association, Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard, said, “Digital transformation has become a priority for governments worldwide. With deep expertise in payments, digital infrastructure, and cybersecurity, Mastercard is proud to collaborate with the Government of Maldives in building a future where technology serves as an inclusive driver of national progress.”
Under the MoU, Mastercard will jointly work with the National Centre for Information Technology (NCIT) and the Bank of Maldives (BML), the country’s leading financial institution. The initiative will introduce innovative solutions to modernize digital infrastructure, enhance payment systems, and strengthen cybersecurity. Spanning five years, the initiative aligns with the government’s vision for inclusive, secure, and sustainable digital development.
The collaboration is structured around the following seven strategic pillars:
· Digital ID Tokenization: Enabling payment capabilities within the national digital ID app (eFaas), supporting contactless, QR, and e-commerce transactions from any bank account or card.
· Smart ID Integration: Upgrading the existing Passport Card into a multifunctional Smart ID card that combines identity verification with embedded debit card functionality.
· Secure Transactions: Utilizing Mastercard’s advanced fraud mitigation solutions to help combat account-to-account card fraud, in collaboration with the Maldives Monetary Authority and local banks.
· Cybersecurity & Risk Management: Deploying national-level cyber threat analytics and defense mechanisms to protect critical digital assets and infrastructure.
· Digitalization & Capacity Building: Accelerating the digitalization of government services and key sectors, such as fisheries, while promoting digital literacy through targeted workshops and trainings.
· Open Loop Transit Solutions: Expanding Mastercard’s multi-modal open-loop transit system across the Maldives, integrating buses, ferries, and speedboats into a unified payment ecosystem powered by Mastercard Payment Gateway Services (MPGS).
· Tourism Insights: Leveraging Mastercard’s Tourism Insights platform to deliver data-driven analytics that support the Maldives’ tourism strategy and enhance promotional efforts.
With several initiatives already underway, Mastercard remains committed to delivering world-class technology and expertise to support the Maldives in its journey toward becoming a digitally advanced nation.
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
