Free EFTPOS transactions effective from tomorrow
December 31, 2018 7:30 am
Starting from tomorrow there will be no fee charged to all Fijians who swipe their ATM cards for transactions at any point of sale around the Country.
This was an initiative announced in the 2018/2019 budget and a partnership between the government and the Association of Banks in Fiji.
The government will also pay fifty percent of the cost to purchase EFTPOS machines for small businesses.
The initiative will also apply to Pharmacies, Service stations and other businesses that provides EFTPOS Services.
Minister for Economy Aiyaz Sayed-Khaiyum says Fijians can do unlimited transactions without any cost.
“This also means better accountability for banks, it also means better business environment, so if you are a shopkeeper and you run a business all transactions will be done electronically, you don’t actually have to take the money to the bank to bank, so when you do the electronic transaction it’s already banked.”
Sayed-Khaiyum says there is also talks of reducing fees for merchants as many small shops at the moment require a minimum purchase of ten dollars.