Digicel gets cell phone banking licence

By ANCILLA WRAKUALE
CELL phone operator Digicel was granted a  mobile banking licence by the Bank of Papua New Guinea (BPNG) yesterday.
The licence enables Digicel to fully implement its cellmoni service nationwide where there is Digicel network.
Since the launch of its cellmoni mobile money service last August, Digicel operated this service on a pilot project while at the same time working towards acquiring its licence.
BPNG Deputy Governor Benny Popoitai said BPNG was for the idea of mobile banking as it encouraged and promoted financial inclusion to areas where there was lack of financial services especially in rural areas.
He said mobile banking and payment services were a new concept in PNG but it simply meant the provision of financial services using cell phone technology.
Popoitai said cell phone banking and financial inclusion were also consistent with the country’s Vision 2050 objective on wealth creation and poverty alleviation.
He congratulated Digicel for being the first to acquire the mobile banking licence.
Popoitai said the new service was convenient and had reduced other extra costs such as travelling long distances to get to a bank.
Digicel CEO John Mangos thanked BPNG for recognising Digicel’s efforts in providing financial inclusion services for PNG through the license.
Mangos said the granting of the licence was another milestone for Digicel as it continued to provide mobile and other financial services.