SUVA, June 10 (Xinhua) -- More Fijian businesses are using Vodafone M-PAiSA QR Pay mobile platform as a mode of payment in a move towards a cashless society in light of the recent COVID-19 pandemic as remittances increase.
The network's new initiative that was established in 2019 has so far processed around 22,000 transactions worth 6 million Fijian dollars (about 2.7 million U.S. dollars) and registered 60 local businesses.
Krishneel Reddy, Territory Executive M-PAiSA ,said Wednesday they received a major boost to their QR mobile platform at the beginning of the year in 2020.
"COVID-19 was another way in which our business did pick up. So a lot of businesses thought of a new way of doing business and they wanted to go cashless as customers could not come to their offices."
There has also been an increase in MPAiSA remittances.
M-PAiSA App keeps Fiji abreast with global technological advancements.
Vodafone Chief Marketing Officer Rajinesh Prasad said earlier the product was developed in-house and is available to everyone from the large businesses to smaller merchants and even market vendors where they can transact using QR Pay.
Prasad said the use of the QR Pay by consumers and merchants does not incur them any costs but there would be a fee applied to all businesses in the future.
QR Pay could be used in areas where there was also no electricity supply. The Fijian government has been introducing more initiatives to make Fiji a cashless society.
Following the Fijian government's announcement in the 2018/2019 Budget to wave Electronic Funds Transfer at Point of Sale (EFTPOS) fees, banks like Bank of South Pacific (BSP) had taken steps to reduce the fees related to the merchant service.
BSP Country Head Haroon Ali said last year these initiatives are aimed at supporting the idea of Fiji becoming a cashless society.
"Use the bank cards in lieu of cash and that has lots of benefits for customers and the merchants. For the merchants they do not have to worry about handling cash and then delivering the cash to the bank. You got security concerns, you got to meet your insurance needs, so it is beneficial for everyone." Enditem
