Fintech & payments regulation in Fiji (2026)

Legal framework

National Payment System Act 2021 (Act No. 4 of 2021) and National Payment System Regulations 2022, administered by the Reserve Bank of Fiji (RBF)

Key points: digital payments & fintech in Fiji

1. 01Comprehensive law in force

   The National Payment System Act 2021 and National Payment System Regulations 2022 took effect on 30 September 2022, making the RBF the licensing and oversight authority for payment services and payment systems.

   rbf.gov.fj laws.gov.fj

2. 02Activity-based licensing

   A payment service provider licence is required for activities including e-money issuance, merchant acquiring, domestic money transfer, cross-border money transfer, and account issuance; licences are granted per activity and carry ongoing capital, governance and reporting obligations.

   rbf.gov.fj

3. 03Regulator

   The Reserve Bank of Fiji is the sole licensing and supervisory authority, mirroring its role over banks, insurers and restricted foreign-exchange dealers; it maintains a licensing function under financial stability.

   rbf.gov.fj rbf.gov.fj

4. 04Exemptions

   Commercial banks (Banking Act 1995), restricted foreign-exchange dealers (Exchange Control Act 1985), single-purpose/closed-loop instrument issuers and intra-group instruments are exempt from licensing, but remain subject to RBF oversight as deemed appropriate.

   rbf.gov.fj

5. 05Instant-payment rails operational

   Fiji runs the FIJICLEAR RTGS system and launched an Automated Clearing House (ACH) in November 2023 for 24/7 instant interbank transfers; the RBF is developing a single standardised QR code interoperable across payment apps.

   rbf.gov.fj rbf.gov.fj

6. 06Open banking and BNPL gaps

   Open banking is described only as an early-stage initiative under the RBF reform program, and there is no dedicated regulatory framework specifically targeting buy-now-pay-later (BNPL) providers, which are an emerging but largely unregulated segment.

   ifc.org rbf.gov.fj

Timeline of decisions

1. 25 Feb 2025Guidance · official
   National E-commerce Strategy 2025–2029 Launched

   The Government of Fiji officially launched its National E-commerce Strategy 2025–2029 with digital payments infrastructure as a central pillar, making Fiji the fifth Pacific Island Forum member to adopt such a strategy. The strategy aligns the NPS payment-system reforms with trade digitisation goals, specifically targeting SME access to digital payment acceptance.

   UNCTAD

2. 1 Nov 2024Decision · official
   Mobile Wallet–Bank Account Full Interoperability Goes Live via FIJICLEAR

   The RBF announced the successful integration of Fiji's licensed mobile network operators—Vodafone M-PAiSA and Digicel MyCash—into the FIJICLEAR national payment backbone, enabling real-time 24/7 wallet-to-bank, bank-to-wallet, and wallet-to-wallet transfers. This was the first full interoperability between non-bank PSPs and commercial banks in Fiji, a milestone under the NPS Act 2021 licensing regime.

   Reserve Bank of Fiji

3. 23 Nov 2023Decision · official
   Automated Clearing House (ACH) Goes Live – NPS Phase 2

   The RBF launched the new Automated Clearing House (ACH), the second and final phase of the National Payment System modernisation project (following the upgraded RTGS in November 2022). The ACH enables 24/7 instant interbank retail transactions with immediate fund availability, replacing the legacy batch-settlement model and directly underpinning digital-wallet interoperability.

   Reserve Bank of Fiji

4. 1 Dec 2022Guidance · official
   National Financial Inclusion Strategy 2022–2030 Published

   The RBF published Fiji's third NFIS, making Digital Financial Services (DFS) one of five strategic pillars and setting targets for digital-payment adoption and expansion of licensed PSP agent networks by 2030. Building on earlier strategies (2010–2014 and 2016–2020), the NFIS 2022–2030 formally ties fintech development to financial-inclusion policy.

   Reserve Bank of Fiji

5. 1 Nov 2022Decision · official
   Upgraded FIJICLEAR RTGS System Launched – NPS Phase 1

   The RBF launched an upgraded FIJICLEAR Real-Time Gross Settlement system, replacing the original 2007 infrastructure. Processing approximately FJD 180 billion annually, the modernised RTGS forms the backbone rails for the subsequent ACH and mobile-wallet integration phases of the national payment system overhaul.

   Reserve Bank of Fiji

6. 30 Sept 2022Law · official
   National Payment System Act 2021 and Regulations 2022 Come into Effect

   Fiji's comprehensive NPS Act 2021 and NPS Regulations 2022 became operative, formally activating the mandatory licensing regime for all Payment Service Providers offering digital wallets, QR-code payments, and other non-bank payment services. The RBF became the single statutory regulator for all payment systems, with five PSPs licensed under the new framework.

   Reserve Bank of Fiji

7. 1 Apr 2022Law · official
   National Payment System Regulations 2022 Gazetted

   The NPS Regulations 2022 were published in the Fiji Government Gazette, specifying detailed licensing requirements, capital and conduct obligations, and consumer-protection standards for Payment Service Providers. This created Fiji's first formal PSP licensing framework, directly covering mobile-wallet operators and QR-payment providers.

   Laws of Fiji (Parliament of Fiji)

8. 12 Feb 2021Law · official
   National Payment System Act 2021 Unanimously Passed by Parliament

   Fiji's Parliament unanimously passed the National Payment System Act 2021, the first umbrella legislation governing all payment systems in Fiji. The Act gave the RBF statutory authority to regulate, license, and oversee payment service providers—replacing a patchwork of informal guidelines—and provided the legal basis for subsequent PSP licensing and NPS modernisation.

   Laws of Fiji (Parliament of Fiji)

9. 31 Dec 2019Guidance · official
   RBF Publishes FinTech Regulatory Sandbox Guidelines

   The Reserve Bank of Fiji issued its FinTech Regulatory Sandbox Guidelines (Financial Sector Development Policy Statement No. 2), providing a controlled live-testing environment for innovative financial products before commercial deployment. This made Fiji one of the earliest Pacific Island nations to establish a formal fintech sandbox, a pre-cursor to the legislative framework formalised in the NPS Act 2021.

   Reserve Bank of Fiji

10. 1 Jan 2010Decision · official
    Vodafone Fiji Launches M-PAiSA — Fiji's First Mobile Money Service

    Vodafone Fiji launched M-PAiSA, Fiji's first mobile money wallet, approved by the Reserve Bank of Fiji and targeting the roughly 45% of Fijians who were unbanked at the time. M-PAiSA pioneered mobile-based deposits, withdrawals, person-to-person transfers, and bill payments, won the GSMA Mobile Money for the Unbanked Award in 2011, and established the commercial model that later drove the NPS licensing framework.

    UN Capital Development Fund (UNCDF)

11. 1 Oct 2007Decision · official
    FIJICLEAR RTGS System Launched — Fiji's First Modern Payment Infrastructure

    The Reserve Bank of Fiji launched the FIJICLEAR Real-Time Gross Settlement (RTGS) system, establishing Fiji's first electronic interbank settlement infrastructure. This foundational system enabled real-time gross settlement for large-value transactions and laid the technological backbone upon which all subsequent digital payment modernisation—including mobile money, ACH, and interoperability—was built.

    Reserve Bank of Fiji

Sources

1. 1.rbf.gov.fj/press-release-no-18-licensing-under-the-national-payment-system-act-2
2. 2.laws.gov.fj/Acts/DisplayAct/3233
3. 3.laws.gov.fj/Acts/DisplayAct/3308
4. 4.rbf.gov.fj/national-payment-system-act-2021-act-no-4-of-2021-2/
5. 5.rbf.gov.fj/national-payment-system-regulations-2022-3/
6. 6.rbf.gov.fj/core-functions/financial-stability/licensing/
7. 7.rbf.gov.fj/markets/payments/
8. 8.rbf.gov.fj/media-note-qr-code-payments-the-quiet-revolution-changing-how-fijians
9. 9.rbf.gov.fj/core-functions/financial-system-development/national-payment-system/
10. 10.ifc.org/en/pressroom/2022/fijians-to-benefit-from-reforms-making-banking-safe