The small Pacific island of Nation Touvallo revealed its first cash vehicles in progress, welcomed as significant by the Prime Minister.
Their contribution marks the first time when 11,000 residents of the island had access to electronic banking.
Five machines and 30 terminals for sale are installed on Funafuti, the country's main island, including at its airport.
Felto Theo, the Prime Minister, said that this move “not only marks an important occasion, but is also historic when the bank moves to a whole new era.”
“We've been in analog space all the time, these were dreams for us,” Theo said according to The guardian.
“These machines are not cheap. But with state support and pure determination, we were able to unleash this service for our people.”
The ceremony was held at the headquarters of the National Bank of Tuvalu in the village of Vayaku on Funafuts. It was also attended by traditional leaders, members of parliament and business employees.
So far, TUULANS had to physically visit a bank to get money, and prolonged queues are formed out as workers withdraw salaries on the day of payment.
Stores will also be able to process electronic payments for the first time.
However, cash machines will initially accept only prepaid cards. The bank plans to introduce debit and credit cards that can be used internationally on a later date.
The head of the National Bank Siose Penitala Teo has said that the transition to electronic banking and payments will open the door for economic empowerment.
Touvalu is a group of nine small islands in the South Pacific, which won independence from the United Kingdom in 1978.
Previously known as the islands of Elis, they are all low, and it makes no sense that Tuvalu is higher than 4.5 m above sea level.
Local politicians are Camparini against climate changeArguing that it can be seen that the islands are crowded with a rise in sea level.
In November, Theo presented a national statement in COP29 Climate Conference In Azerbaijan, the warning that raising the sea level as a result of melting glaciers will one day mean that Tuwalu is completely immersed.