May 16, 2020
In a period where the economy is facing a downturn, personal remittances can contribute towards revenue growth.
Vodafone Fiji today announced that they will offer free remittances into the country through its MPaisa platform for the next two months.
Reserve Bank of Fiji Governor Ariff Ali says in a time when our tourism industry has grinded to a halt, other avenues are being looked at to bring in foreign exchange.
“Our second largest exchange earner is personal remittances last year we got slightly below 600 million in foreign exchange from personal remittances , 85% of this remittances is in the form of gifts and maintenance and the amounts are relatively small and these are the type of payments that will come through this channel”
Vodafone Fiji Head of e-Commerce Shailendra Prasad says all fees for both domestic and international remittances made using the M-PAiSA payment platform will be waived.
“We realize what it means for the many families to receive financial assistance as they struggle to make ends meet. It’s a question of survival for many. Therefore, we are most humbled to offer this fee-free money transfer service so that those living abroad who may wish to provide a financial lifeline to their families in Fiji can do so at no extra cost”
International money transfer to Fiji through MPaisa has increased from two million in February to 4.5 million dollars as of last month and this is set to escalate through the year with more transactions expected.
SOURCE: FBC News