July 1, 2010
M-PAiSA is a mobile phone based money transfer that allows registered users to send and receive money directly on through their mobile phones.
At the product’s launch on June 17, the Managing Director of Vodafone Aslam Khan said M-PAiSA was the quickest, most convenient and safest means to sending and receiving money anywhere in Fiji.
“With M-PAiSA, registered users will be able to deposit money in the M-PAiSA account in exchange for equivalent electronic value be able to send money directly onto others mobiles anywhere in Fiji, buy recharge or airtime and also be able to withdraw cash at an M-PAiSA agent,” said Mr. Khan.
Mr. Khan acknowledged the support of PFIP in this project. PFIP made available seed funding to facilitate the project.
M-PAiSA mimics Kenya’a M-PESA services, the first country in the world to offer mobile phone banking since 2007. Within its first year, it surpassed 2 million subscribers and by January this year, 9 million people representing 23% of the population in Kenya were using M-Pesa.