$52.6m December Inward Remittance Record for M-PAiSA

M-PAiSA has achieved yet another record by surpassing the $50m mark for inward remittances for the first time with a total inward remittance of $52.6m in December. Vodafone Fiji’s Chief Executive Officer, Ms. Elenoa Biukoto said, “This is a significant milestone for M-PAiSA breaking the $50m threshold for remittances in a single month for the first time. It is a very proud moment for the company and our team. We continue to break new boundaries with M-PAiSA and what a way to sign off for 2023 then to achieve the highest IMT for a single month in the final month of the year.

M-PAiSA continues to build partnerships and onboard new IMT partners in overseas markets to make it easier for the Fijian diaspora around the world to send money back to their families within minutes from anywhere in the world.

Given that approximately $80m-$90m on average is received each month in personal remittances into the country, the $52.6m remittance into M-PAiSA for December accounts for approximately 55-60 percent of the total personal remittances into the country. “We are proud of M-PAiSA's contribution to the Fijian economy. As a home-grown service, M-PAiSA has touched most Fijians' lives in one shape or another form over the years”, said Biukoto. .

Be it domestic person-to-person money transfers, receiving money sent by relatives from overseas, making cashless payments for shopping, bill payments, online shopping or over-the-counter payments using M-PAiSA QR, it has revolutionised how payments are made in the country. It has also made it very convenient to receive cash assistance from the government. This includes back-to-school grants, disaster relief and social welfare payments etc. And now with M-PAiSA Mastercard, Fijians travelling abroad do not have to run around looking for foreign currency. They can simply put money in their M-PAiSA account and use it anywhere in the world.

M-PAiSA is a success story that UNCDF regularly mentions as one of the digital transformation initiatives in the region that is helping the financially excluded and the underserved. It is empowering individuals and communities economically and helps grow the economy through the multiplier effects of faster money circulation in the economy. The service plays a critical role in helping Fiji achieve the UN Sustainable Development Goals on an all-inclusive journey, added Head of Vodafone eCommerce and Digital Financial Services, Mr.  Shailendra Prasad.

Vodafone reminds users never to share the M-PAiSA PIN or OTP sent to their mobile phone with anyone to protect their account from scammers and fraudsters. Do not trust unknown callers with your hard-earned money. Verify the identity of the person calling or messaging you by calling back the person they claim to be on their known personal numbers to avoid being scammed.