Mastercard partners with Vodafone Fiji to drive financial inclusion and empowermentJuly 12, 2023 | New Zealand
M-PAiSA Mastercard® brings more people into the digital payment ecosystem and provides hundreds of thousands of Fijians greater choice, access and control over their money
Mastercard has partnered with Vodafone Fiji to provide a new way of paying in-store and online, both at home and abroad, with the launch of M-PAiSA Mastercard. This initiative will give hundreds of thousands of Fijians access to digital payments through Mastercard’s global payment network of over 100 million merchants worldwide.
Vodafone Fiji currently has over 580,000 registered M-PAiSA customers with more than 335,000 of these customers actively using the service every month. Based on current trends, M-PAiSA is expected to process over FJ$3 billion in transactions in 2023.
The Fiji National Financial Inclusion Strategy (NFIS) stated that Fijians, particularly women, youth, people with disabilities and those that reside in rural and maritime areas, have limited to no access to basic financial products and services. This is due to several barriers, including fringe network connectivity, low digital literacy, and complicated bank procedures.
A focus on financial inclusion is increasingly important for Fijians as the world moves towards digital payments and online shopping, with some retailers trading exclusively online. The M-PAiSA Mastercard, which functions the same as a traditional debit card, can be used to pay online and in store – both at home and when travelling internationally.
In addition to providing a vastly improved customer payment experience and access to funds, it will also be the first time that Fijians will be able to open a debit account without visiting a branch. Vodafone customers can apply for the M-PAiSA Mastercard using their phone by simply uploading approved documents through the M-PAiSA app. The first 100,000 applications will receive the card free of charge.
“The M-PAISA Mastercard demonstrates the impact that meaningful collaboration can have as we continue to build a global digital economy where everyone can thrive. We’re already seeing and hearing how the M-PAiSA Mastercard is unlocking new and exciting opportunities, empowering Fijians with more choice in the way they pay and where they shop,” said Ruth Riviere, country manager, New Zealand and the Pacific Islands, Mastercard.
“We are really excited about the introduction of M-PAISA Mastercard in Fiji,” said Shailendra Prasad, head of eCommerce and Digital Financial Services at Vodafone Fiji. “This is a game-changer that will completely transform the payment ecosystem through a globally accepted payment card which can be acquired digitally. The response has been overwhelming with over 40,000 signups in just 4 weeks.”
"As a non-bank entity, to be given a Mastercard issuing license is a significant milestone for Vodafone M-PAiSA in our quest to empower our customers through greater digital inclusion, ensuring everyone has equal opportunity in an increasingly digital world. We greatly value our partnership with Mastercard and hope this is the first of many new digital payment solutions we can offer our customers,” added Prasad. Vodafone will explore the possibilities of launching the service in other Pacific Island markets where it has a presence.
Mastercard is committed to removing barriers and delivering underserved communities with tools for personal financial empowerment. The Vodafone M-PAiSA is Mastercard’s latest project in the Pacific Islands that aims to connect more people to the digital economy and drive financial inclusion. See here for more information.
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About Vodafone Fiji
Vodafone Fiji is an industry leader with its creative and strategic leadership in mobile telecommunications and ICT industry offering a diverse portfolio of enterprise solutions, digital excellence, e-commerce, digital financial services and next-generation mobile communications technology and Fintech platform. Our vision is to be the most admired company empowering our customers through digital inclusion and empowerment.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.