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Stay up to date with Microfinance Pasifika events by subscribing to our newsletterIs the Pacific ready for mobile money?
A joint research team from the Pacific Financial Inclusion Programme and the International Finance Corporation took a close look at how a mobile money system might take hold in Papua New Guinea. Despite all of the challenges in providing financial services, there is a great opportunity for mobile phone based financial services to increase people's financial and physical security in PNG. This paper outlines how a mobile money system might develop in PNG, what existing networks it might use for "cash in" and "cash out" services, and how mobile money might help individuals, companies and government alike to lower cost, increase security, and reduce corruption linked to the movement of money. More...