Mobile banking eases customers’ burden in WNB

LONG queues and journeys to the bank are a thing of the past for Marty, an oil palm worker from a small village outside of Bialla in West New Britain.
Like many of his workmates, he started receiving his salary through his mobile phone.
“Things have become easier for me, since I opened a MiCash account with Nationwide Microbank,” Marty says.
“My phone is now my bank account.
 “I now do most of my transactions through my mobile phone.
“I use the phone to send money to my relatives in Kimbe and I save money too.
“Before, I used to get my salary in cash and wasted most of it.
“But Nationwide Microbank pays me interest on my MiCash account and they have taught me how to save.
“And if I need to get some liklik cash I can always go and see a local MiCash agent.
“There are quite a few in the Bialla area”.
Nationwide Microbank managing director Tony Westaway said Marty was among a number of new Microbank customers.
“Many of our new customers were either previously un-banked or under-banked,” he explains.
“By under-banked I mean they received their salary in their commercial bank account and as soon as the salary is deposited, the customer withdrew the lot.
“This happens for a number of reasons including the need to avoid travelling long distances to the bank and to avoid the long queues.”
Westaway said with MiCash agents available in many locations, people no longer needed to travel long distances.
“MiCash uses new technology to provide a mobile wallet or in the case of Nationwide Microbank, a genuine bank account on your mobile phone,” he said.
“This concept – known as Mobile Money – aims to extend reach to un-banked customers or to expand financial services to new customers.
“In PNG, Nationwide Microbank has partnered with Digicel and Oceanic Communications to pilot MiCash in West New Britain.
We have also been strongly supported by the Central Bank with this initiative.
“During this year we intend to roll out MiCash to other provinces in PNG.”