I mentioned in a past post, that with the coming of mobile money with Digicel’s Cell Moni, it was imperitive that we had competition in the mobile money sector to ensure competitive pricing and mobile money options.
So it’s encouraging to see Post PNG evolving their Salim Moni Kwik (SMK) service from a fax and money distribution service to something mobile based. Although it is available on Digicel at the moment future use on bemobile and CitiFone will go along way for competition.
As Post PNG Chief Executive Officer Peter Maiden said in the Post Courier, the MobileSKM is taking the paper out of the way and going to the air. The MobileSMK is basically the existing SMK service on mobile phones.
Post PNG project manager, Brandon Thomas said the MobileSMK could be accessed on Digicel mobile phones only, but the company would look to migrate in future to bmobile and the Citifon as well.
The product will soon include doing overseas money transfers with Western Union.
“With MobileSMK you don’t need a bank account. This is why MobileSMK is so significant, because it opens up the formal financial services to anyone with a Digicel phone,” Mr Thomas said.
“The vision is that Post PNG leads the way to make sure that financial services are accessible, available and affordable to the many and not just a few,” Mr Thomas said.
He said Post PNG was about getting to every part of PNG and not just about where the money is in urban centres and mine sites and Post PNG believed that the new product, the Mobile SMK would achieve this objective.
“Over ninety per cent of people in PNG today have no access to the formal financial sector and we believe with Mobile SMK, we’re going to change this,” he said.
Governor of the Bank of PNG (BPNG) Loi Bakani, who was also there to witness the launching of the product, said many people don’t have access to financial services in PNG but PNG was advancing with the use of technology and in particular with mobile phone products and services.
Governor Bakani said BPNG was in discussion with the Department of Education to introduce financial literacy in secondary and primary schools and also try to introduce school banking to teach children how to do banking.
MobileSMK can be accessed by going to a post office or a MobileSMK agent.