Digicel Pacific Limited, a unit of Jamaica-based mobile phone network operator Digicel Group Limited, recently launched an international remittance service called Digicel Mobile Money to allow people living in New Zealand to send money to any Digicel mobile phone in Tonga, Fiji and Samoa [1]. The service will be available at a flat fee of NZD 3 (USD 2.30) per transaction. The recipients are not required to have a bank account as the money transferred to their mobile phones can be used as a “mobile wallet” to make purchases or withdraw cash from approximately 300 participating stores and service agents.
The Pacific Financial Inclusion Program (PFIP), an initiative sponsored by the United Nations to extend financial services to “unbanked” Pacific islanders, is reportedly providing unspecified support to Digicel Pacific in support of this product. Digicel Mobile Money is a collaboration between Digicel Pacific and KlickEx, a New Zealand-based online currency exchange platform.
Digicel Group Limited reports approximately 11 million customers in 32 markets in the Caribbean, Central America and the Pacific as of August 2010. Digicel is incorporated in Bermuda and operates from a head office in Jamaica.
By Nisha Koul, Research Associate
About Pacific Financial Inclusion Program (PFIP): The Pacific Financial Inclusion Program (PFIP) aims to deliver financial services to poor Pacific islanders who have limited or no access to banks. It was established in 2008 with funding from the United Nations Capital Development Fund, the European Union and the United Nations Development Programme.
Sources and Additional Resources:
[1] Pacific Financial Inclusion Program News, “Easy Transfer,” http://www.pfip.org/media-centre/in-news/easy-transfer.html
MicroCapital.org story, August 4, 2011, “MICROCAPITAL BRIEF: Boston Consulting Group Publishes “Socio-Economic Impact of Mobile Financial Services” for Telenor, Exploring Effects of Mobile Financial Services in Bangladesh, India, Malaysia, Pakistan, Serbia Over the Next Decade,” https://www.microcapital.org/microcapital-brief-boston-consulting-group-publishes-socio-economic-impact-of-mobile-financial-services-for-telenor-exploring-effects-of-mobile-financial-services-in-bangladesh-india-malaysia/
MicroCapital.org story, July 11, 2011, “MICROCAPITAL BRIEF: Easypaisa, Branchless Banking Service of Tameer Microfinance Bank Limited, Telenor Pakistan Facilitates $9m in Remittances Over 10 Months,” https://www.microcapital.org/microcapital-brief-easypaisa-branchless-banking-service-of-tameer-microfinance-bank-limited-telenor-pakistan-facilitates-9m-in-remittances-over-10-months/
MicroCapital Universe Profile: Pacific Financial Inclusion Program (PFIP), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Pacific+Financial+Inclusion+Program
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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