The majority of M-PAiSA users are women, a fact that reflects well on empowering rural women.

Of the 580,000 users in Fiji, 52 per cent were.

Speaking at the launch of M-PAiSA’s Mastercard, Minister for Trade, Cooperatives and Small and Medium Enterprises, Manoa Kamikamica, said the revelation was a win for women.

M-PAiSA expects to process over $3 billion in financial transactions this year.

In a month, average remittance for its 335,000 active users is around $36 million.

M-PAiSA Processes Around:

• $1.2 billion annually in local peer-to-peer transfers.
• $250 million in QR payments to businesses.
• $45 million in utility bills payments amongst other payments.

M-PAiSA was launched as a financial inclusion service, with funding from United Nations Capital Development Fund under its Pacific Financial Inclusion programme.

“Families overseas have the comfort of sending money home within seconds at a minimum cost, through the M-PAiSA mobile wallet,” Mr Kamikamica said.

“From a net retainer point of view, inward remittances have the highest impact on the Fijian economy.”

Mastercard is accepted in 250 countries with over 100 million merchants worldwide, making M-PAiSA a global payment platform.

Vodafone Fiji was granted the national payment service provider license by the Reserve Bank of Fiji (RBF) under the National Payments Act.

Translated, M-PAiSA’s services come under the same level of supervision by RBF as commercial banks.

M-PAiSA’s service is expected to improve when 5G technology becomes operational.

Vodafone Fiji was now 5G ready, after trialling efforts that date back to 2019, said the company’s chairman, Joe Taoi.

“During the COVID-19 pandemic, online and digital platforms became the go-to mode as Fijians abroad sent money directly into M-PAiSA providing a lifeline for many Fijians,” he said.

The M-PAiSA Mastercard solution is underpinned with fraud-prevention layers delivered by Mastercard, said Mastercard Pacific director, Craig Kirkland.

“We celebrate the ability to use a smartphone for creating an inclusive ecosystem for consumers,” he said.

Story by: josefa.babitu@fijisun.com.fj