Traders laud mobile banking service

TWO major commodity buyers in East New Britain Province have praised Bank South Pacific for providing an immediate and secure mobile payment solution to cocoa and copra growers through the bank’s Mobile Banking
BSP’s mobile banking payment services will enable growers in the province to receive payments directly to their bank accounts via mobile phones from buyers. 
 East New Britain Development Corporation (ENDBC) and NGIP-Agmark said the service would ultimately eliminate the need for issuance of cheques and provide security for them and their growers.
This mobile payment solution was set up as BSP’s mobile banking pilot project that provides immediate and secure mobile payments to cocoa and copra growers in East New Britain, including people in local communities who can conduct transactions at a cash agent or sole trader. 
 The pilot has been a success and is now rolling out to other centres.
“Indeed this service will ultimately eliminate the need for us to issue cheques and provide security for us and our growers,” Semmy Vuia of ENBDC said.
NGIP- Agmark’s Graham McNally said they fully supported these improvements in banking as it reduced the risk associated with moving hard cash and costs involved in moving money.
“Working with BSP gives our customers assurance that their funds are safe,” McNally said.
“It further reinforces our own ambitions to promote long-term financial security in the communities in which we work.”
Another commodity buyer, Klinwater Plantation’s Peter Wollcott said “I am very pleased that BSP is providing a very essential service for the rural community and I applaud BSP”.
“Not only has it made payments faster and secure, it has also stimulated a saving culture among farmers, as there is no longer a need to carry cash and spend all of it.”
BSP’s head of rural banking said the bank was leading the way in providing quick and safe ways for business owners to send and receive money and such initiative was helping to grow the local economy and provide opportunity for people in rural areas