TechInPacific – The women in Fiji has driven the incomes of market stall businesses, but their accepted were only limited to cash payments.
The Fintech Pacific and ygap, an international development organization have worked with local government BPP’s Department of Foreign Affairs and Trade along with Mastercard to close the gap experienced by the women-led businesses in the country.
The collaboration is in time with the global pandemic affecting the island as well, which means any financial tech that could reduce the economic impact is more than welcomed.
“Mastercard is committed to financial inclusion and ensuring people around the world have access to financial services, delivering a digital economy that works for all. Collectively, those in the partnership have the tools, technology and capabilities to think big and deliver,” said Richard Wormald, Division President, Australasia, Mastercard.
“Together with Mastercard’s partners at the Australian Government, ygap and Fintech Pacific, the initiative will show how technology can be harnessed to give people more control, better experiences, new opportunities and wider choices.”
The Director of Strategy and Operations of ygap, Audrey Jean-Baptiste explains on why the fintech solution matters, in which he said women will feel more encouraged to grow their income, increasing their financial security, and help them in supporting their families and communities. This way,” Fiji will now be better equipped to recover from covid-19’s devastating economic impact.”