It is now easier for people to manage their money with the launch of a groundbreaking new service by Vodafone and Digicel today as users can transfer funds seamlessly between mobile wallets and bank accounts.
Head of Vodafone Fiji’s Digital Financial Services and eCommerce, Shailendra Prasad says M-PAiSA users will now be able to transfer money in near real time from their banks into M-PAiSA and vice-versa.
Prasad says it covers all commercial banks including ANZ, Baroda, Bred, BSP, HFC and Westpac.
In an interview with fijivillage News, Digicel’s Head of Mobile Financial Service Anup Kumar says this is the third phase.
He says phase one focused on high-value payments between banks and phase two enabled instant bank-to-bank transfers and now mobile wallets like M-PAiSA and MyCash can interact directly with bank accounts.
Kumar says the new feature allows users to quickly transfer money from their mobile wallets to any bank account and vice versa, bringing convenience to everyone, particularly the unbanked population.
He says its hard for some people to open a traditional bank account but with a mobile wallet like MyCash, they can easily download the app, submit simple documentation and start using it for everything—from bill payments and groceries to sending money to friends.
Kumar says all transactions are protected by PINs and biometrics where each transaction requires authentication just like with bank cards.
He urges the users not to share their PINs as this opens up the risk of fraud.
Kumar further says customers will find it simple to use the new service and there is no need for updates.
He says once users open the app, they will see a bank icon that allows them to start transferring funds and the same applies to the banks’ apps where customers can now find MyCash in the dropdown menu for easy transfers.
Kumar says with this new service, Vodafone and Digicel are making digital payments faster, safer and more accessible than ever before, offering all the benefits of a bank card, right from a mobile wallet.
