October 3, 2018
SUVA, Oct. 3 (Xinhua) — Digital innovation for financial services in Fiji have now become an increasing trend for the younger generation, said Fiji’s Vodafone head of mCommerce and Corporate Affairs Shailendra Prasad on Wednesday.
The Pacific Financial Inclusion Program (PFIP), which began in 2008, is all about how people in the Pacific region can access banking services through their mobile phones.
According to Fiji Broadcasting Corporation (FBC) on Wednesday, Prasad said the MPaisa system allowed Fijian people to make payments and access transactions electronically.
“For a small country like Fiji, where 35 percent to 40 percent of the payment is either to government or from government, it provides a critical message to go digital and its sort of good initiative to be part of it, Prasad said.
This financial inclusion program is also taught in schools and Fijian children are qualified to learn about financial literacy through it, he added.
Around 150 participants from across the Pacific region, Africa and Southeast Asia gathered Wednesday to celebrate the 10th year anniversary of the Pacific Financial Inclusion Program (PFIP) at the University of the South Pacific.
PFIP is a Pacific-wide program that has helped over 1.78 million low-income Pacific islanders gain access to financial services and financial education.
It achieves these results by funding innovation with financial services and delivery channels, supporting policy and regulatory initiatives, and empowering consumers.
SOURCE: China Xinhua News