Alternative payments via mobile technology

Wabag, in Enga province, is considered the least populated provincial capital in the country.

It is located on the Lai River and the Highlands Highway runs through the town between Mount Hagen and Porgera.

Tucked away in this city is one of Bank South Pacific Financial Group Limited (BSP) top mobile merchants, Esrae Trading, an active advocate for cashless ecosystems and a frontline financial inclusion point of contact, educating its consumers on the convenience and economic benefits of paying by mobile. Payments.

This SME retailer continues to influence the payments landscape by driving cashless payments through mobile payments. They appeared earlier this year, generating the second highest volume of transactions in Papua New Guinea.

Consumers in Enga Province are embracing the paradigm shift towards mobile banking, a much safer way to transact.

Elsie Sumnan, owner of the store, said: “My customers educate each other on how to pay using mobile payments. When a customer successfully makes a purchase on their phone, the message kicks in and more and more people start paying with their phone. “

I keep teaching my clients about mobile payments and how it is cheaper for them to pay, I tell them, mobile banking is convenient because you just use your One Bang phone (multifunction phone), you don’t need credit, just dial * 131 #, and I make sure they know it’s cheaper than EFTPOS and the card, bank charges 10 toea tasol, ”Ms. Sumnan added.

“My customers know they have a cheaper option to earn Cash Back Rewards using mobile banking rather than using their cards to withdraw cash. I can help provide this banking service to the customer and for me as a merchant there is no charge. “

The payments landscape continues to evolve at an increasing rate with consumer needs and / or demands pushing for advanced convenience and cheaper options for purchasing goods and services, household items, and utility payments.

BSP understands that digital adoption will encounter geographic dependencies given the availability and scope of the service, particularly in rural areas of PNG. This financial gap offers the opportunity to resolve payment constraints through the enhancement of existing digital solutions, focusing primarily on the mobile banking platform.

BSP is seen as a digital enabler for the masses, we assess the adoption of channels by the broad masses, and we recognize the importance of our USSD mobile banking platform, it is a critical rail that enables BSP to ” reach out to the most rural areas of PNG and influence financial inclusion.

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