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FDB CEO, Ratu Deve Toganivalu's address at launch of M-PAISA service for FDB customers
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02 June 2011

    

Ladies and gentlemen.

The Fiji Development Bank is pleased to partner with Vodafone to introduce M-PAiSA services to our customers as an option for loan repayment channels.


At present, the only other payment channel open to our clients for
loan remittance is the Telegraphic Money Order or TMO that t si available through the postal s ervice particularly, for our rural based clients. Our rural based clients make up about 55% of our total client portfolio of 6,268 accounts.


To further improve the collection of loan repayments from clients
based in the rural areas, our staff in the branches also go out into the community and carry out collections several days every month.


Clients that do not use TMO or our rural collectino service
normally come into the Branch office or send a cheque for their repayment.


The cost of transportation is not cheap in most rural communities
and with M-PAiSA, our clients will now have one less expense to worry about when they make their loan repayment using M-PAiSA.


This service is also time saving in that instead of spending a few
hours travelling to make repayments, our clients can better utilize that time in their business or to meet social and family obligations.


To have M-PAiSA as an additional pay channel will not only
provide the added convenience of loan repayment for urban and rural customers alike, but it will also help the Bank reduce costs associated with revenue collection. It works as a win-win situation for both the Bank and our clients.


The additional good news for our clients is that once they register
to use M-PAiSA as their loan repayment channel, they do not have to worry about any other additional fee or charge to use the service.


Once registered for the M-PAiSA service, any FDB customer will be
able to access the M-PAiSA menu on their mobile pressing star 181 hash (*181#).


From the menu they select the “payment” option and follow 3
simple steps to make the paymnte. Once the payment is completed, the customer receives an electronic receipt instantly via SMS confirming the payment. Smi ultaneously, FDB will also receive a payment advice which we will be able to view in real time through a secure access over the web.

Ladies and gentlemen, the Bank is excited about this new service offering to our clients and we look forward to the expected results.

Vinaka.

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