Customers can now quickly transfer money between their mobile wallets and bank accounts, following the integration of Fiji’s Mobile Network Operators into FIJICLEAR. This system, managed by the Reserve Bank of Fiji (RBF), serves as the foundation of the National Payment System, facilitating payment processing and clearing for commercial bank customers.
The new integration also allows direct fund transfers between users of M-PAiSA and MyCash, marking a significant advancement that will improve convenience and accessibility for all users in Fiji. RBF Governor Ariff Ali emphasized that with the rapid growth of digital financial services, consumers are increasingly looking for swift and convenient payment methods.
“Integrating these key mobile wallet providers with the banking sector bolsters efficiency and convenience, empowers businesses, and opens opportunities for numerous individuals without access to traditional banking services,” Mr. Ali stated, highlighting this as a major step towards enhanced financial inclusion.
Haroon Ali, Chairperson of the Association of Banks in Fiji (ABIF), expressed enthusiasm about the onboarding of Mobile Network Operators onto the FIJICLEAR system, viewing it as a significant milestone for fostering a more robust and interconnected payment framework in the region.
In support of this initiative, Vodafone Fiji’s CEO Elenoa Biukoto remarked, “Our goal is to connect the unbanked and underbanked with the formal banking system, enabling them to access their funds anytime and anywhere. We commend the RBF and other financial entities for this landmark achievement that will benefit all Fijians.”
Digicel Fiji’s CEO Farid Mohammed noted that the inclusion of mobile wallets in FIJICLEAR reflects the government’s commitment to digital progress. “We are proud to contribute to this transformative process and are devoted to assisting the RBF in establishing a world-class payment system,” Mr. Mohammed added.
This enhancement comes after the implementation of the Real-Time Gross Settlement System and Central Securities Depository in 2022, as well as the launch of the Automated Clearing House last year, representing a pivotal move in modernizing Fiji’s payment infrastructure.