The Fiji Interchange Networks Payment Bill has been unanimously passed by parliament allowing Fijians to withdraw funds from any ATM at a minimum cost.
Attorney General Aiyaz Sayed-Khaiyum says the bill ensures that banks interconnect through a national switch.
He says it will reduce the costs associated with electronic transactions and also reduce dependency on cash.
Sayed-Khaiyum says it will increase access by customers to financial systems and institutions.
Sayed-Khaiyum says it will take about six months to finalise this new system.
