By Oliver Smith on Monday 19 April 2021
Supporting hard-hit SMEs across the 26 atolls and islands of the Maldives.
Payments startup Pomelo Pay is empowering business customers of the Bank of Maldives to take international multi-currency payments, launch online shops and process contactless payments.
It’s part of a partnership with the bank, which is expanding today to let customers access most of Pomelo Pay’s services.
Pomelo Pay started in 2018 as a way for UK retailers to accept AliPay and WeChat Pay through QR codes. Since then, the service has grown significantly to offer a full payments-as-a-service API, plus it’s soon launching contactless payments via smartphones via NFC.
“Due to its incredibly prosperous hospitality and tourism sectors, the Maldives has been hit particularly hard by Covid-19 which has limited occasions for travel and social interaction,” said CEO and co-founder Vincent Choi.
“Through our partnership with the Bank of Maldives, we are hoping to breathe fresh life into these crucial industries.”
Pomelo Pay had an existing partnership with the bank since 2019 focused on domestic payments for businesses that operate across the state's 26 atolls and islands.
In November, Choi and the team raised a £2.1m seed round led by Force Over Mass to expand its London and Singapore teams and build its reach across Europe and Asia.