Good news for M-paisa and My Cash users around the country as they are now able to send money between their bank account and their mobile wallets.

Vodafone Fiji Limited and Digicel Pacific today launched the third phase of its On-Boarding of Mobile Network Operators into the National Payment System Architecture in Suva.

Customers will be able to send funds directly from their bank accounts into their M-paisa and MyCash accounts and vice versa.

Digicel Pacific’s Head of Mobile Financial Services, Anup Kumar says the launch has greatly simplified the process of managing cash for many of their clients.

“Today’s launch has made handling cash for many people much easier because compared to before, they do not need to line up in long lines to withdraw from banks and send into their M-paisa and MyCash. Now it has been made easier.”

Vodafone Fiji Limited’s Head of E-Commerce and Digital Financial Services, Shalendra Prasad says that because the processes are quite straightforward, smartphone users don’t need to worry about how it operates.

“If one wants to move money from the banks to M-paisa, they can go to the appropriate banking apps or internet banking and select M-paisa as the option to send money to, add the beneficiary details and account number as well as the amount and then enter the pin to send.”

Prasad adds that this phase permits clear communication and transparency between the banks and their clients.

“This also enables the digital tracking of transactions so as to prove to all credit institutions of the whereabouts of one’s saving and spending on M-paisa as well as MyCash”

Additionally, the launch of this third phase will not only benefit all smartphone users but also facilitate a more effective flow of capital into the economy, which will increase economic activity by virtue of the multiplier effect.

(By: Ruci Ranitu | Intern Journalist)