30 C
Port Moresby
November 21, 2019
Business News

Market Vendors Use New Mobile Phone Payment System

Women vendors from Gerehu Market in NCD are using mobile phones to deposit market fees.

A fee of two kina is paid electronically to the NCDC markets division account to allow them to secure a space.

NCDC Markets Division Manager, Michael Minja, said this initiative, provided by Micro Bank, is effective and prevents any dishonest activity.

Mr Minja said K6, 000has already been raised from this new initiative.

Women transfer two kina, as a market fee, from their Micro Bank account to the NCDC market division account. 

Physical collection of market fees is no longer entertained, as money collected may have greater change of mismanagement than this new system.

Many market vendors already have an account with Micro Bank, which helps them to deposit their daily takings. 

Micro Bank Head of Mobile Banking, Trudi Egi, said they are bringing services to the people and mothers at Gerehu Market who can use these facilities.

Women vendors said they are satisfied with this new service that makes banking easier through the use of mobile phones.

Similar services will be provided at Gordons Market after its reconstruction.

Yesterday, the new Gerehu Market was officially opened by NCD Governor Powes Parkop and representatives from the diplomatic corps and UN Women.

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