Promoting the establishment of new fintech providers focusing on serving the Pacific region

Pacific Regional

About the Program

As Measure 5.1.1 of the Pacific Regional E-commerce Strategy and Roadmap points out, factors preventing digital payments include regulatory gaps, low financial and technological literacy, and limited digital infrastructure. With the advent of cheaper, app-based payment solutions developed through financial technology (“Fintech”) in other regions, the Pacific is poised to benefit from similar advancement if it can attract fintech providers willing to develop solutions responding to Pacific business and consumers’ needs, for both domestic and crossborder B2C transactions.

The International Monetary Fund’s Strategy for fintech development in the Pacific proposes segmenting action into four areas, namely: innovative payment systems, identification requirements, credit sharing information, and risk assessment and management.

Start and End Date

January
2021
-
Not Available

Geographical Focus

Pacific Regional

Main Beneficiary

Private Sector

Status

Active

Donors

N/a

Implementing Agency

N/a

Contact Person

Andrea Ibba
Pacific E-commerce Coordinator

Policy Area

PA5. Electronic Payment Solutions

Strategic Output

  • 5.1. Non-bank digital payment solutions for E-commerce are deployed across the Pacific

SDGs

Individual Projects Under the Program

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