The introduction of new technology such as M-paisa in the hope of cutting traveling costs to make payments or receive money will need better understanding for it to be accepted by the majority.
This is the advice of Dr Vijay Mahajan, Chairman of BAXIX, who is an advisor in rural livelihood, while making a presentation at the Reserve Bank, saying the new technology will definitely cut down transaction costs.
He added however the acceptance of the new technology by small transactors may take some time.
Meanwhile Prime Minister Commodore Voreqe Bainimarama will officially launch Vodafone's M-Paisa Money Transfer initiative tonight.
Vodafone will become the first company in the Pacific, ahead of Australia and New Zealand to introduce a payment service that enables customers to complete simple financial transactions over a mobile phone.
Manager Corporate Affairs and Product Manager Shailendra Prasad earlier stated that the M PAiSA service offers many services similar to a bank and registered Vodafone users will be able to deposit and withdraw cash with approved agents in Fiji, send money directly to others mobile phones, buy recharge and airtime and also receive money from overseas directly to their mobile phones.
Money technology needs better understanding
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