Fiji making a big push towards financial inclusion: AG
July 3, 2018 12:33 am
The removal of all EFTPOS fees from Debit and Credit cards was one of the initiatives that was announced in the 2018/2019 budget.
This comes as Fiji moves towards a cashless economy.
Minister for Economy Aiyaz Sayed-Khaiyum says the government is making a big push towards financial inclusion by making electronic transaction easier and more affordable for Fijians and businesses.
He says the waiver of EFTPOS fees will ensure adequate consumer protection.
“For starters through discussions with all the commercial banks electronic transactions will no longer carry any fees as a one generated in 2014 at the point of sale.”
Meanwhile, Government will be paying 50% of the cost to purchase EFTPOS machines for small businesses as more shops need to have access to those machines.