SUVA, June 6 (Xinhua) -- The Fijian government has introduced more initiatives to make Fiji a cashless society and one of the local banks’ has taken a lead role towards this.
Following the Fijian government’s announcement in the 2018/2019 Budget to wave Electronic Funds Transfer at Point of Sale (EFTPOS) fees, Bank of South Pacific (BSP) has taken steps to reduce the fees related to the merchant service.
According to Fiji Broadcasting Corporation (FBC) news on Thursday, BSP Country Head Haroon Ali said these initiatives are aimed at supporting the idea of Fiji becoming a cashless society.
“Use the bank cards in lieu of cash and that has lots of benefits for customers and the merchants. For the merchants they do not have to worry about handling cash and then delivering the cash to the bank. You got security concerns, you got to meet your insurance needs, so it is beneficial for everyone.”
BSP has also introduced a Touch and Go Visa Debit Card which is now available in all branches in the island nation. The card which features a chip, aims at countering fraudulent activities.
At the moment, BSP is giving customers the Touch and Go capability of up to 50 Fijian dollars (about 23 U.S. dollars) and in a day they can have three separate 50 Fijian dollar transactions, so at the end of the day maximum 150 Fijian dollars (about 69 U.S. dollars) , but per individual transactions it is 50 Fijian dollars and after that users have to insert the card and use the PIN.
This new chip based Visa Debit Cards has a number of advantages. It never leaves hands, protects users from hackers. People do not need to deal with cash and can be used anywhere in the world to pay for all types of services.