RemittancesGateway.org

Fiji to welcome mobile phone bank service

Thursday, 04 March 2010 11:42

Source: Radio Fiji

Vodafone Fiji will soon be launching a new money remittance service through mobile phones to be called the M Paisa Service.

Prime Minister Commodore Voreqe Bainimarama told FBC News the new service should be a hit with rural people who travel long distances to receive money remitted to them.

Bainimarama said shops around the country will be used to cash the remittance as long as the recipients bring along their mobile phone with the remittance account details on it.

"Vodafone Fiji will soon be launching a mobile phone based money transfer service called M Paisa that will allow mobile users in Fiji to access some of the basic banking services directly through their mobile phones. This will include they will be able to deposit, withdraw transfer and receive money from overseas including remittances all through their mobiles. So you don’t have to go through an exchange. Which saves them the interest they have to pay. But what is exciting here it can also be used in the rural areas in the rural community.”

Bainimarama says the service will compliment government’s Microfinance initiatives, as it will bring banking services to those who have poor access.

“For far too long development has only been focused in the urban centres at the expense of rural communities. It is getting used to the people of Fiji especially the rural communities who have been denied access to these basic bank facilities for a long time. This service the M Paisa service will compliment the Micro Finance initiative already undertaken by my Government to boost the economic potential in the rural communities.”