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Fiji: fintech & payments regulation

Regulated

Fiji fintech & payments: RBF oversight under NPS Act 2021; Credit Union Act 2025

Lead regulator:
Reserve Bank of Fiji
Key law:
National Payment System Act 2021
Last updated:
2026-07-12

The Reserve Bank of Fiji (RBF) serves as the primary supervisor for the financial sector, including fintech and payment services, under the National Payment System Act 2021 and its accompanying 2022 Regulations. These laws mandate licensing for all payment service providers and system operators, establishing a comprehensive framework for oversight and operational conduct. Recent regulatory activity includes the commencement of specific operational regulations in late 2024 and the issuance of minimum guidelines for risk management and complaints handling in 2026.

In parallel, the Credit Union Act 2025, effective March 2026, brings credit union business under the RBF's direct supervision, repealing the 1954 Act and introducing new licensing requirements. The regulatory landscape also encompasses insurance under the Insurance Act 1998, foreign exchange dealers under the Exchange Control Act, and capital markets activities, all supervised by the RBF. The jurisdiction maintains a structured, multi-layered regulatory approach to financial services.

Who regulates

  • Reserve Bank of Fiji

    Primary supervisor for payment systems, credit unions, insurance, and capital markets

    [1][2]

Core laws & rules

  • National Payment System Act (2021)

    Establishes the legal framework for licensing and supervising payment service providers and system operators.

    [3]

  • National Payment System Regulations (2022)

    Details operational conduct, licensing conditions, and oversight mechanisms for the payment system.

    [4]

  • Credit Union Act (2025)

    Repeals the 1954 Act and regulates credit union business under RBF supervision with new licensing requirements.

    [1]

Licensing & registration

  • Payment Service Provider

    Mandatory licensing for all entities providing payment services or operating payment systems under the NPS Act 2021. Timeline: Regulations 17-19 commenced 30 December 2024.

    [3][5]

  • Credit Union

    Entities must obtain authorization to conduct credit union business under the new 2025 Act. Timeline: Commenced 1 March 2026.

    [1][6]

Restrictions & warnings

  • Licensed Payment Service Providers must implement risk-based ML/TF frameworks, comprehensive risk management, and transparent complaints handling mechanisms.

    [7][8][9]

  • Foreign Exchange Dealers are restricted to specific permitted business activities, such as travel-related transactions for money changers.

    [10]

Direction of travel

  • The regulatory framework is actively evolving with recent commencements of the Credit Union Act 2025 and specific NPS regulations, indicating a trend towards comprehensive oversight and standardized operational requirements.

    [1][5]

Sources

  1. Credit Union Act 2025 · 2026-03-05
  2. Insurance Act 1998 · 2020-03-22
  3. National Payment System Act 2021 · 2021-02-17
  4. National Payment System Regulations 2022 · 2022-04-29
  5. LN 102 of 2024 National Payment System Regulations 2022 Commencement Notice · 2026-02-06
  6. Legal Notice No. 20 Commencement Notice – Credit Union Act 2025 · 2026-03-05
  7. Reserve Bank of Fiji Minimum Requirements for the Management of Money Laundering and Terrorist Financing Risk · 2026-01-01
  8. Minimum Requirements for Risk Management Frameworks of Licensed Payment Service Providers in Fiji · 2025-01-01
  9. Reserve Bank of Fiji Minimum Guidelines on Complaints Management · 2026-01-01
  10. Types of Businesses Permitted for Restricted Foreign Exchange Dealers · 2020-01-01

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This guide is compiled automatically from 10 primary-source documents published by Fiji's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.