Enhanced productivity through time and cost savings for people in the rural areas has been one of the key benefits of the electronic payment system.
This is according to the Westpac Banking Corporation regional general manager Jason Stephens. Westpac has facilitated one of the largest Government to People (G2P) payments in Fiji that is the social welfare payment, and Mr Stephen says the model has been successful by including people in the financial system where no bank is present.
Mr Stephens told the Fiji Sun that this has become a crucial component to assist in improving the lifestyle of rural people.
Westpac recently made a store in Vunidawa, K. Bainivakacegu Store a Westpac merchant providing them with an EFTPOS terminal through which social welfare recipients in the surrounding area in Naitasiri would be able to receive their funds.
“Westpac foresaw a positive impact not only for the merchant but the socio economic environment in which the merchant operates. The store is strategically located connecting with the numerous surrounding villages, the hospital, post office and provincial council office, making it an ideal location to provide EFTPOS merchant services not only to the appropriately 600 social welfare customers but to all residents in the surrounding area,” he said.
Mr Stephens revealed that the bank is now looking at learning from this model to implement similar set ups in other rural communities and assist making a psotivie impact to people lives.
He added that Westpac has so far opened in excess of 20,000 accounts for social welfare recipients.
“Westpac is committed to continuously playing its part in building Fiji in all areas and customers segments - we’re a bank you can bank on,” he stated.