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Samoa’s New Digital Payment System to Boost Financial Inclusion and Support Economic Activity
Samoans are set to benefit from their new national digital payment platform, which will make it easier and quicker to transfer funds, including large volume for retail payments, helping accelerate growth of digital financial service offerings by financial institutions and drive inclusive economic development.
The new digital platform, the Samoa Automated Transfer System (SATS), is expected to increase access to the financial system for all Samoans, half of whom do not have a bank account or use formal financial services. It will enable electronic domestic payments, ensuring real time settlement of interbank payments.
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