Nationwide Microbank(NMB) is in the process of rolling out its Micash Mobile Banking product throughout the country.
The product will enable NMB customers to conduct banking transactions from their bank accounts using the mobile phone technology.
The roll out processcomes after the Bank of Papua New GuineaGovernor,LoiBakani, announced the bank’s “No Objection” towards this innovative initiative, in mid-May this year.
Governor Bakani says the Bank of Papua New Guinea considers mobile banking as oneimportant channel to deliver financial services to the unbanked population and encourages financial institutions to embrace technological advancements to extend financial institutions, to the rural population.
The Micash Mobile Banking was introduced in October last year where NMB tried out the product in West New Britain Province.
The successful completion of the pilot phase means that NMB customers in West New Britain are nowusing the mobile product.
