Of Special Interest
4th October 2011
The mobile wallet reaches Papua New Guinea
The establishment of a mobile money service in Papua New Guinea is a good indication of the emergence of this type of service as a global event and not one first in the west and then gradually spread to other parts of the world. The service called MiCash is from Nationwide Microbank. The strap-line used is "If you’ve got a mobile, you’ve got a bank".
Services include P2P payments, SMS banking, viewing of balances, paying bills, airtime top-up and withdrawing cash from agent offices. Bank account penetration in Papua New Guinea is estimated at 15% of the adult population with mobile phone ownership many times higher.