electronic banking

The head of the national bank, Siose Penitala Teo, said the move to electronic banking and payments would open the door to economic empowerment.

Their instalment marks the first time the island's 11,000 inhabitants have had access to electronic banking.

Central Pacific Bank, for example, called their digital checking account Shaka Checking at the suggestion of electronic banking manager Florence Nakamura.

In the days before electronic banking, the easiest way to transfer money from one bank to another would be to withdraw the money and then deposit it into the other bank account.

Rodriguez said he and many other entrepreneurs began using electronic banking long before the new measures were announced to comply with tax laws that have evolved with the growing private sector.