Global payment processor Paymentology has renewed its partnership with Vodafone Fiji, to evolve its M-PAiSA mobile wallet. The wallet will now be able to issue Mastercard digital first cards to its customers via the M-PAiSA app, easing cross-border and online payments.
In 2010, Vodafone Fiji introduced its inaugural closed-loop mobile wallet solution. This offering evolved into its existing open-loop payment service platform, one of the largest systemic payment platforms in Fiji. The mobile wallet solution offers a full suite of features such as utility payments, in-store QR payments, remote payments, cross-border remittance and internet payment gateway services.
Through the partnership, Paymentology will provide Vodafone Fiji with 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. As a result, 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.
‘Vodafone continues to explore new boundaries in the mobile world’
The announcement comes as credit and debit card usage in Fiji lags behind that of developed markets. Recent surveys have also revealed that a considerable proportion of Fijians face difficulties obtaining scheme cards for cross-border payments and participating in a digital economy.
The onboarding of M-PAiSA Mastercard enables customers to apply through the M-PAiSA app without the need to visit any existing outlets.
Emre Durusut, regional director APAC at Paymentology, also offered his thoughts on the move: “We’re incredibly proud to support this next stage of Vodafone Fiji’s financial services evolution. This move has not only diversified their 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 our support has not only unlocked new markets but has also made significant strides in promoting financial inclusion. We look forward to continuing to pave the way for a more inclusive and technologically advanced future together.”
Deepak Baran, head of fintech at Vodafone, commented on the announcement: “We are thrilled to continue our collaboration with Paymentology as our chosen issuer processing partner, their fundamental platform capabilities such as compliance, speed, data, customisation, and security are unparalleled.
“Plus, their unrivalled local knowledge and unwavering commitment to financial inclusion have played an essential role in our achievements. Together, we are shaping a future where financial opportunities are accessible to all Fijians, and making great progress towards fully embracing the flourishing digital economy.”
Image and article originally from thefintechtimes.com. Read the original article here.