ANZ joins mobile banking race

 ANZ launched its mobile banking product yesterday to provide customers immediate access to their money, PNG chief executive officer Mark Baker says.

He said the ANZ goMoney in Papua New Guinea would provide a new and convenient way for customers to do daily banking using mobile phones.

“ANZ goMoney will make banking simpler and more convenient than ever before.” 

Baker said supporting financial inclusion for all Papua New Guineans remained a priority for ANZ, particularly for customers in rural areas.

“With ANZ goMoney, customers will no longer need to travel great distances to perform cash deposits and withdrawals … they would be able to purchase goods from accredited merchants set up in all provinces in Papua New Guinea, thus eliminating the need to carry cash.   

“We are also providing an easy way to open a bank account and register for ANZ goMoney with one of our ANZ goMoney sales agents. 

“They will come to you – there is no need to visit a branch to register.”

A similar product, also called ANZ goMoney but an application for smartphones, was launched in Australia and New Zealand in 2010 with almost one million transactions performed on ANZ goMoney per week.

“One of the real benefits that mobile phone banking will have in Papua New Guinea is that it will help us connect with the large number of unbanked people across the nation,” Baker said.

ANZ Pacific chief execu­tive Vishnu Mohan said: “ANZ goMoney represents a strong commitment to financial inclusion across the region. 

“ANZ goMoney allows customers to send money to family and friends, pay their bills, purchase airtime top-up vouchers and view their account balances and history on their mobile phones. “

Bank of Papua New Guinea governor Loi Bakani thanked ANZ and other commercial banks and financial institutions for the steps they had taken to provide innovative products and services for the rural communities.