PERSON to person transfers accounted for the highest value of transactions via digital wallets in 2025 – recorded at $2.86 billion.
The Reserve Bank of Fiji had reported that more than $7.3 billion was moved through digital wallet platforms last year, and of that, person to person transfers accounted for $2,864,014,098.47.
The next highest transaction was transfers from digital wallets to businesses valued at $990,180,118.74 ($990.18million); and transfers from banks to wallets, valued at $843,670,804.09 ($843.67m); followed by transfers made from remittance system to wallet, valued at $749,696,650.73 ($749.69m).
Digital wallet to cash transfers, cash to wallets, and wallet to bank transfers followed with the value of transactions recorded at $672,406,791.41 ($672.40m); $527,685,225.49 ($527.68m); and $434,874,681.48 ($438.87m), respectively.
Further breakdown of the $7.3b obtained by The Fiji Times from the central bank comprised:
– Wallet to remittance system – $30,286.18;
– Wallet to off-line wallet – $8,789,931.83 ($8.78m);
– Wallet to airtime top-up – $90,501,337.15 ($90.50m);
– Business to wallet – $115,684,379.51 ($115.68m);
– Wallet to Government – $993,525.12;
– Government to wallet – $49,856,171.38 ($49.85m);
– Wallet to EMI (fees charged) – $466,098.09; and
– Others – $10,785.23.
As of December last year, the RBF stated that the five payment service providers (PSPs) processed 116.4 million wallet transactions worth $7.3b.
It said that was equivalent to an average of $612m digital wallet transactions a month.
The five licensed PSPs that offer digital wallet services and QR (quick response) code payments in Fiji are Digital Financial Services Pte Limited (M-PAiSA), Digicel (Fiji) Pte Limited (MyCash), Sole Limited (Solé), Abacus Fintech Pte Limited (WeChat), and Dynamic Payment Limited (China UnionPay and WeChat).
The RBF also said that QR code payments grew strongly, reaching $672.3m by the end of last year.
As of last December, a total of 957,816 people were registered e-money users, of which 722,340 (75.4 per cent) were active users.
RBF governor Ariff Ali had said the central bank was now working on a single, standardised QR code that worked on all payment apps – a move that’ll mean businesses no longer needing several QR codes displayed on the counter for different service providers; customers not facing payment failure due to incompatible codes, and payments will become faster and more reliable.
n QR Code explanation on Page 13
