Highest remittance in a month totaling $38 million recorded through M-PaiSA in Dec – Prasad

During COVID-19, inward remittances into Fiji peaked at $1 billion dollars in one year, while December last year recorded the highest remittance in a month into the country via the M-PaiSA totaling $38 million.

While speaking at the launch of the Cross border Remittance from M-PaiSA to M-VATU today, Vodafone Fiji's Head of eCommerce and Digital Financial Services, Shailendra Prasad says before COVID, remittances through M-PaiSA averaged one to two million dollars but right now it is averaging $36 million a month.

He also says every month there are around 334,000 active M-PaiSA users but they have 580,000 registered users.

The Cross border Remittance from M-PaiSA to M-VATU has been funded by the European union and supported by Australian Aid, United Nations UNCTAD, UNDP and UNCDF.

The launch means that Fijians can now send money across to Vanuatu and in 3 to 4 weeks, people in Vanuatu can send money over to Fiji.

The Head of eCommerce also mentioned during the launch that the minimum amount that can be sent to Vanuatu is $25 with a maximum of $2,000.

He adds if people want to send over $2,000, they will have to get clearance from the Reserve Bank of Fiji.