Maldives Monetary Authority (MMA) has issued a Request for Information (RFI) with the objective of obtaining information about prospective vendors’ capabilities, potential solutions and the costs involved to fulfil the vision of the Maldives Payment System Development Project.

MMA invites all interested parties to submit a written response to this RFI. A copy of the RFI is available on MMA's website ( and from the links below:

Please note that the deadlines for registration and submission of response are as follows:

  • Deadline for registration: 4th March 2019, 16:00hrs Maldives time
  • Deadline to submit response to the RFI: 7th March 2019, 16:00hrs Maldives time

Frequently Asked Questions from RFI Respondents

The questions and responses are posted in the order received.

  • For the requested payment gateway that will be used for the local internet payment, are you looking for a solution that will manage the international cards like Visa, MasterCard, etc. as well? I.e. card switch system?
  • The payment gateway must support all local schemes and should be capable of connecting all international schemes.

  • For the fingerprint authentication, are you looking for a system to store and validate fingerprints for all customers, or there is a third party that we will connect to and validate the customer? Can you please provide more details on the business case?
  • The fingerprint verification would be provided by a third party.

  • For the solution for tourists, what is the business value for giving the tourist smart cards? Can this be replaced by opening a mobile wallet for them?
  • It is not limited to smart cards. You may propose mobile wallets or any other solution.

  • For the requested costs, our system is priced in different schemes; can we use our pricing model? And are you only looking for the implementation cost at this point without the licenses cost?
  • You may use your pricing model. We want to know both the implementation and licenses cost.

  • The project is divided into three parts and according to the anticipated timeline, the implementation is to be finished in 4 months; Are you looking to implement the three parts within the 4 months?
  • Yes. Full scope of the RFI is to be implemented in the given time frame. However, you may propose an alternate time frame.

  • We are an international company that we have many country-wide implementations, will you require a local partner\company in Maldives for the chosen vendor?
  • A local partner is not required. However there are no restrictions for you to affiliate with a local partner.

  • We note the opportunity to visit MMA to present our solution. The timeline you provide indicates that that is an opportunity ahead of the RFI response. Please confirm that is the case and whether the opportunity is for a physical visit or a teleconference or both. Please also provide suitable dates.
  • The opportunity is for both physical visit and teleconference. However, we would prefer if the Vendor visits MMA for the presentation.

  • I have gone through the RFI today and can see that the tool we provide would certainly fulfil the message validation/transformation side but the tool does not currently offer some other aspects of the solution that you wish to see (i.e. KYC, Clearing, Fraud Detection) that would be performed by a payment solution or orchestration tool that would sit outside of our system. We do work with vendors that use our system as part of their payment solution and would be delighted to give you their details in case you would like them to submit to the RFI (if they already are not being asked) or we are happy to provide information on our system for this RFI but I believe your scope will require more functionality then just the elements in our system.
  • Appreciate if you could share the details of the RFI with those Vendors so that they may participate in the RFI as well.

  • Would it be possible to set up a quick call to talk about this in more detail?
  • We can make arrangements for a conference call if you could please provide your contact details.

  • What would be the expected presentation duration?
  • No specific time duration. Ideally less than an hour.

  • Will it be possible to demonstrate the solution remotely while our representative is present on site?
  • Yes. Arrangements can be made.

  • Will you be able to identify key points that should be covered during this presentation/demonstration?
  • Key points to be covered are highlighted in Section 8.2 of the RFI.

  • Will it be possible to receive RFI copy in MS Word format to facilitate answers preparation?
  • Yes.

  • If we are restricted in our response to the RFI due to commercial partnerships, can we respond to the RFO if our partner does not get through the RFI stage gate to the RFO phase?
  • Submission of offer to RFO is limited to the vendors registered through the response to the RFI only.