Other key benefits of the Bill are: Vesting clear powers with the Reserve Bank to oversee, regulate and supervise payment systems in Fiji, including non-bank and non-financial institutions providing payment services. This is vital to not only ensure the safety of the funds of all users but also maintain confidence in these systems and Fiji’s financial system as a whole.
Providing legal certainty around the finality of payments and protecting all aspects of the payment system and its users.