Just received:

 

Wise, the technology company building the best way to move money around the world, has enabled international transfers to Fiji today, expanding coverage in the Pacific region.

 

Over 222,000 Fijians who live abroad, including 95% of those in New Zealand, Australia, USA, Canada and the UK will now be able to send up to FJ$10,000 per transaction via the Wise app or on web, to anyone in Fiji who holds a Vodafone M-PAiSA mobile money account.

 

The Vodafone M-PAiSA wallet is a mobile wallet that will allow Wise customers to transfer money online to friends and family safely and easily at the Google mid-market exchange rate, and Wise’s transparent low fees. The recipient does not need a bank account to receive money, only their Vodafone Fiji mobile. Customers can hold up to FJ $10,000 in their wallet, and spend in Fijian Dollars for all services available on M-PAiSA such as; paying directly with M-PAiSA QR for shopping, make bill payments, make business payments, transfer money to friends and family, and withdraw from authorised agents.

 

Financial inclusion in the Pacific Islands has been recognised by the Group of Twenty (G20) as important for promoting development and reducing poverty as well as enhancing financial stability and integrity. 

 

More than 5% of Fiji’s GDP can be attributed to remittance payments, a number that’s likely to increase as the country battles the recent influx of Covid-19 and the ongoing decline of international tourism. 

 

The G20 and the New Zealand Government are committed to supporting accessible and affordable remittance flows. They are pursuing this through increasing market competitiveness, harnessing new and emerging technologies, enhancing transparency, and encouraging supportive regulatory environments. Wise’s movement into the region aligns with these goals.

 

Wise’s entrance into Fiji is offering customers a service that, in comparison to current providers, is: 

 

· Transparent -  the service use the real, mid-market exchange rate seen on Google
· Fast - 100% of transfers to Vodafone M-PAiSA are instant (in less than 20 seconds) when using Credit Card and PoLI. 
· Convenient - 100% online experience from verification to the setting up and completion of transfers, with no need for recipients to leave their homes. All recipients need is an active Vodafone mobile number.
· Cheap - cheaper compared to standard banks and other service providers

 

Note the link to Wise is an affiliated link.