Riya Mala 
file photo
The government wants Fiji to become a cashless society, but businesses are still hesitant about embracing it.
They say they will have to pay extra fees on every transaction, impacting the business’s profitability, especially for smaller enterprises with tight margins.
However, Permanent Secretary for Trade, Shaheen Ali, is focused on increasing the volume of digital trade while working with mobile card providers and banks.
He argues that a cashless economy will provide a cheaper way to conduct transactions digitally, rather than relying on the current manual methods.
“So the answer to those concerns is doing business electronically. Once the volume of business increases, and I was talking to private sector players like Vodafone, the transaction costs themselves go down and pretty soon become minimal.”
Ali adds that the ministry will be working with the implementation committee towards the successful establishment of the five-year National E-commerce Strategy.
Fiji Commerce and Employers Federation CEO, Edward Bernald, says we must address the challenges businesses face, especially the smaller ones in the digital world, including payment gateways.
“That’s where business resilience and economic growth actually occur. National strategies, such as the e-commerce strategy, will provide entrepreneurs and businesses the platform they need to scale up. It will offer the opportunity to expand and access markets in the global, increasingly digital world.”
Bernald adds that businesses are bound to face challenges, but by embracing new strategies, like the cashless society, they can enhance their growth.
Stream the best of Fiji on VITI+. Anytime. Anywhere.
