Concerns regarding security, transaction disputes and limited access has emerged as the most significant challenge for consumers in the provision of Digital Financial Services (DFS) in Fiji, a recent survey by the Consumer Council of Fiji (CCoF) has found.
The survery titled: ‘Consumer Council of Fiji (CCoF) “Beyond Access: Consumer Perspectives on Digital Finance in Fiji”‘, was launched yesterday by Deputy Prime Minister and Minister for Trade Manoa Kamikamica in Suva.
The survey, carried out on 1104 consumers from all four divisions in Fiji, found that 35 per cent of the respondents were anxious about using digital financial services like money wallet platforms.
CCoF chief executive officer (CEO) Seema Shandil said it was evident from the findings that while DFS adoption is on the rise, there remained “significant hurdles” that ought to be addressed to ensure the full benefits of digital finance are realised by all Fijians.
“Key findings from the survey reveal that while convenience and accessibility are driving factors behind DFS adoption, concerns regarding security, transaction disputes, and limited access persist among consumers,” Ms Shandil said.
“Moreover, issues with customer support and digital literacy pose additional challenges that must be tackled head-on. As shareholders in Fiji’s financial ecosystem, it is imperative that we collaborate to address these challenges effectively.”
CCoF manager campaigns, information, and media officer Vinash Singh thanked Consumers International for providing the funding and support which culminated in the successful execution of the survey and the preparation of the report.
Mr Singh said by engaging with more than a thousand consumers of various age groups, genders, and socio-economic backgrounds, CCoF has ensured that the voices of all Fijians resonated within the corridors of decision-making.
Mr Kamikamica congratulated CCoF on the successful compilation of the report and “for thinking about developing something that will, I’m pretty sure, form the basis of some forward thinking as we try and develop the small to medium enterprise sector in Fiji, and create more financial inclusion in Fiji”.
