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Digital Financial Services

The Industry working group will focus on innovative ways to expand access and encourage market using ICT. It will facilitate the development of payment systems that serve the low-income population sustainably in order to reduce the time and money that low-income earning people spend to conduct financial transactions. The Industry Group will also identify pertinent research that will enable service providers to better serve low-income and remote communities

Progress Update: Working Group provides ongoing technical inputs to progress the work on the Retail Electronic Payment System (REPS) project undertaken by Bank of PNG   to enhance inter-operability between financial institutions through the National Switching Facility on settling payments between the financial institutions.

Dialogue was established with NICTA to ensure sim-card registration progress with MNOs  is not seen as a barrier to mobile banking customers of the financial Institutions as deregistration of sim-cards would affect business for the financial institutions

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