UK-based Paymentology has partnered with Vodafone Fiji as it upgrades its M-PAiSA mobile wallet to issue Mastercard digital first cards for cross-border and online payments.
Vodafone Fiji is a 100% locally owned entity, of which 51% is owned by Amalgamated Telecommunications Holdings and 49% by Fiji National Provident Fund. Since the introduction of its inaugural closed loop mobile wallet solution in 2010 it has now evolved into a fully-fledged open-loop payment service platform and is considered one of the largest systemic payment platforms in Fiji. It offers a full suite of features such as utility payments, instore QR payment, remote payments, cross border remittance, and internet payment gateway services.
Paymentology is providing Vodafone Fiji the connectivity to establish a gateway to the Mastercard global network for the issuing of M-PAiSA Mastercard debit cards. The partnership utilises smart APIs and a pre-established technology stack to authorise and process Mastercard payments. With the assistance of Paymentology, Vodafone Fiji can now provide its customers with a secure and seamless payment experience, while managing sophisticated operations by exempting Vodafone from the complexities of global payment connectivity and compliance for faster deployment.
The announcement comes as credit and debit card usage in Fiji lags that of developed markets, presenting a significant disparity. Vodafone said that a considerable proportion of Fijians face difficulties obtaining scheme cards for cross-border payments and participating in a digital economy. Now thanks to the onboarding of M-PAiSA Mastercard, customers can apply through the M-PAiSA App without the need to visit any of the outlets.
Officials from Vodafone Fiji said they are happy to continue their collaboration with Paymentology as their chosen issuer processing partner, their fundamental platform capabilities such as compliance, speed, data, customisation meet Vodafone Fiji’s needs. Plus, their local knowledge and commitment to financial inclusion have played an essential role in their achievements. Together, they are shaping a future where financial opportunities are accessible to all Fijians, and making great progress towards fully embracing the flourishing digital economy.
Also commenting in this partnership, Paymentology’s representatives stated that this move has not only diversified Vodafone’s revenue streams but has also reduced their reliance on conventional communication services, which are now considered mature products. Vodafone continues to explore new boundaries in the mobile world, and with Paymentology’s support has not only unlocked new markets but has also made significant strides in promoting financial inclusion.