The Pacific has successfully evolved from the highest-cost remittance region in the world, to the world’s lowest-cost multi-currency region for small value cross border payments. This is due to strong leadership in technological innovation, enhanced regulation, and more competition as a result of shared core infrastructure for small financial institutions.
Klickex has been building Domestic Payment Systems for more than ten years. Beginning in Tonga, KlickEx built the first real time inter-bank payment system between ANZ bank and Westpac Bank of Tonga in 2009, after a two year consultative development program. This service enabled real-time transfers between the two domestic banks for the first time, for customers registered for the service.
IBM announced a new joint initiative with KlickEx that deploys a blockchain banking solution to help financial institutions speed up universal cross-border payments. The Distributed Ledger platform is designed to reduce the settlement time and lower the cost of global payments for businesses and consumers. The solution improves how banks clear and settle transactions in real time.
KlickEx’s original platform has become the lowest cost bank-to-bank service in the Pacific, and arguably, is the world’s leader in real time low value cross border payments. Upgraded to increase its capacity by 1000 times in 2014-2015, KlickEx handles up to 775,000 payments per second per billion of population. KlickEx is recognized as the catalytic agent to eliminating payment delays throughout the Pacific.
Ranked the No.1 low cost remittance service in the Pacific by The World Bank, KlickEx is easy, fast and is the lowest cost payment system in the Pacific. KlickEx Pacific allows people to send money to Digicel mobile phones, from your bank account or agents and takes less than two minutes to transfer between New Zealand, Australia, the UK, Samoa, Tonga, Vanuatu, and Fiji.
The KlickEx Foundation mission is to enhance lives across the Pacific through Financial Inclusion, to Relieve poverty, advance access to education, and to develop innovation and technologies that are beneficial to Communities. Health, Environnment and Income (Financial Inclusion) are the 3 main area of focus for our foundation. Learn More about KlickEx Foundation
Our innovation and advanced technology is first supporting communities to grow and learn, so that our services may then lay the foundation for yet more innovation to drive low risk, safe economic growth, for families, and their countries.
Bank De-Risking has lowered send side access to inclusive financial services. Household in received market continue extraordinary adoption of mobile / digital / innovation products. Consumer data metrics show nearly 70% household penetration and increasing awareness of digital infrastructure.