I wrote about this Summit last year, which was organised by INA. A very forward thinking meet which discussed the practical ways in which organisations, especially banks could introduce mobile banking in PNG. Some projects are already under way and we should no doubt be seeing one or two of them being launched in 2009.
Below are some PDF’s from the Summit:
- Summit Program
- Opening Comments at Summit
- Global Consumer Trends in Low Value & Micro Payments
- POMCCI – A business Perspective
- Data Nets, Pei Esi
- Mobile Money, The World and PNG
- Expanding access to financial services in Vanuatu
Unfortunately I could not get the presentation given by Lew Kenah of BSP, who gave us a live demonstration on his iPhone of how a customer could check their account balance. Keep your ears to the ground for that one because from what I’ve heard they are already running it and their IT guys are testing it out.
How it works is that you will have to register with the bank for the service, then when you send a designated word to the bank you will be able to get your balance. You will also be able to transfer funds from one account to another through your mobile. In terms of security the service will only work with your registered phone and SIM card. Which means that no account numbers etc will be sent back and forth via SMS. The only issue I guess is that if someone steals your phone than you have to disable that SIM quite quickly before someone uses it. I’m not sure if you have to text a PIN of some sort. But this is all hearsay of course until they actually do release the service.
The other service to look out for is Data Nets’ ‘Pei Isi’ service which will allow you to send money from mobile to mobile and then be able to redeem cash from selcted agents. You would also be able to use this ‘mobile wallet‘ type service to make payments at selcted outlets as well. This is an interesting take on mobile money and is different in that it is in what is called a ‘walled garden‘ meaning that the service will have no interaction with the banks initially. It will be simply a group of registered agents who will be able to issue funds and cash funds that are stored on your mobile as credits of some sort.
Certainly some encouraging endeavours, so we will all have to know in the end how Digicel and BMobile will factor in all of this.