We started Payer because paying for everyday things here meant queues, counters and cash. We wanted managing your money to feel like sending a message: instant, and something you can do from wherever you are.
In 2022, Payer was granted a payment service provider licence by the Central Bank of Maldives under the National Payment System Act. That licence is what lets us hold your money and move it on your behalf, and it sets the standards we run to: how customer funds are safeguarded in a segregated account, how we verify who you are, and how we handle your data.
Since our launch in October 2018 we have grown steadily across the country, and in 2019 we were named "Startup of the Year" at the Maldives Business Awards. We believe that by solving the hard parts of payments in the Maldives, we can help make money work for everyone here.
Regulatory information
- Legal entity
- Payer Private Limited
- Licence
- Licensed by the Central Bank of Maldives as a Payment Service Provider under the National Payment System Act
- Registered office
- Infinity Hub, 1st Floor, Mirihi Magu, Hulhumalé, 23000, Maldives
- Customer funds
- Safeguarded in a segregated bank account held on your behalf
- Custodian bank
- Maldives Islamic Bank
