By Sera Tikotikovatu-Sefeti
Mastercard has partnered up with Vodafone Fiji to launch a new Mastercard product aimed at improving financial inclusion and supporting remittance payments.
Mastercard Country Manager for New Zealand and the Pacific Islands, Ruth Riviere says “as the world moves towards digital payments and online shopping, M-PAiSA Mastercard gives hundreds of thousands of Fijians greater control over their money and access to over 100 million merchants worldwide that accept Mastercard payments.”
With over 580,000 registered M-PAiSA users, the trends indicate that the platform will process over FJ$3 billion in transactions in 2023.
At the product’s launch, Minister of Trade, Cooperatives, Small and Medium Enterprises, and Communication, Manoa Kamikamica, said it would create ” a significant multiplier effect in the economy as money moves quicker in the economy”.
He continued: “With many Fijians abroad, including in Australia and New Zealand, they have the comfort of sending money to their families back here at home within seconds at a minimum cost through the M-PAiSA wallet.
“It is particularly pleasing to note that 52% of M-PAiSA users are women, and it has for the first time enabled many women, particularly in rural areas, to have a financial account of their own. What a great win for women empowerment and inclusion,” he added.
Riviere says M-PAiSA Mastercard cardholders will benefit from Mastercard’s global security network and protections, ensuring payments are safe and secure. This includes zero-liability protection, which protects card holders in the instance of fraudulent transactions and goods or services not received.
Customers will also be able to use their card digitally, through the app.
“So far, 58,000 customers have applied to register for the M-PAiSA Mastercard. This really highlights that Fijians have been looking for new ways to pay and get paid, and that offers better access to the global digital economy and enables them to transact with peace of mind,” Riviere says.
More information about the fees and charged for the card can be seen on the Vodafone website.