Mobile wallet TIN rule sparks concerns

Fijian e-wallet platform, Solé criticises a new rule requiring mobile wallet users to register for a Taxpayer Identification Number.

Friday 04 July 2025 | 22:30

Solé Fintech founder, Semi Tukana.

Solé Fintech founder, Semi Tukana.

Ministry of Tourism and Civil Aviation.

Mobile wallet account holders will be required to comply with a mandatory Taxpayer Identification Number (TIN) rule, which Finance Minister Biman Prasad says aims to curb tax evasion and unreported economic activity. However, one local e-wallet provider has slammed the move, saying that it would unfairly disadvantage rural communities and the Fijian diaspora overseas who rely on its services.  

Currently, individuals can open mobile wallet accounts, such as M-PAiSA and MyCash, without a TIN. That will change on December 31 this year when mobile wallet account holders must register for a TIN, as mandated by the Fiji Revenue and Customs Service (FRCS).

Semi Tukana, founder and chairman of the money management platform Solé Fintech, called the change “draconian.”

“Internet connectivity and the current infrastructure disadvantage those in rural areas in registering online, and it would be very costly for them to come to any FRCS in the urban areas," he told this masthead. 

“We cannot expect them to come by boats or bilibilis or cross many rivers just to go and have them line up for a TIN.  And for our diaspora, we can’t expect them to fly over to Fiji to register for a TIN.

“The directive from FRCS is ridiculous and is not well-thought-out. Probably no consultations were made, and someone woke up one morning and decided that it was an excellent idea to get all e-wallet holders to have a TIN."

Solé fintech chief executive officer, Mereia Volavola, agreed that the rule would be a barrier to accessing financial services for many people.

"The emergence of e-wallets and fintechs has provided a crucial alternative, allowing ordinary people, especially those without bank accounts, to store and transact money quickly and efficiently. This aligns with global trends," she said.

"However, many unemployed individuals, or those in rural and maritime areas, may not have a TIN because their earnings are often at a subsistence level, typically below the FJ$30,000 income tax threshold. Additionally, poor internet infrastructure in rural areas makes online TIN applications difficult."

Solé fintech executives propose that FRCS develop an Application Programming Interface or API for financial entities so remote e-wallet customers can register and obtain a TIN. 

"It would take some time for e-wallet providers to make changes on the platform where the details of the customer and TIN are provided to FRCS," Mr Tukana stated.

"We urge FRCS to take their service to the people through the use of technology."


Internet connectivity and the current infrastructure disadvantage those in rural areas in registering online, and it would be very costly for them to come to any FRCS in the urban areas.

Solé Fintech founder, Semi Tukana


Curbing underground economic activity

In his Budget 2025-2026 address last week, Minister for Finance Biman Prasad announced that all mobile wallet account holders will be required to register with a TIN. He stated that the absence of this requirement was a "loophole" that allowed for tax evasion, money laundering, and underground economic activity. 

A six-month transition period will be provided to allow for full compliance.

However, Ms Volavola believes existing measures to curb illegal economic activity are sufficient, and authorities may be duplicating compliance efforts.

"Financial entities in Fiji report suspicious transactions to the Reserve Bank of Fiji (RBF), and there's also the option to report transactions above a certain threshold (e.g., FJ$1,000). The Financial Intelligence Unit (FIU) is already conducting intelligence work and can provide relevant information to the FRCS. It appears that the FRCS is duplicating reporting and compliance efforts," she said.

"The Ministry of Finance needs to address this duplication in monitoring efforts among the FRCS, RBF, and FIU. Instead of burdening ordinary Fijians and increasing compliance costs, the FRCS could obtain crucial information more efficiently."

Ms Volavola urged for better coordination among the regulators.

"Otherwise, this policy requirement feels reminiscent of past regimes where policies were imposed without adequate consultation or consideration of their practical impact on the ground," she said.

Feedback: jernese.macanawai@fijisun.com.fj



Explore more on these topics