Fintech & digital payments rules in Fiji (2026)

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.

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.

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.

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.

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.

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.