Central Banking

Papua New Guinea upgrades payment system

PNG notes and coins
Bin im Garten

The Bank of Papua New Guinea (BPNG) plans to onboard smaller domestic banks and deposing-taking institutions, as well as international payment networks such as Visa and MasterCard, in the next phases of its new nationwide payment system.

The BPNG launched the first phase of its new retail payment system – which ultimately aims to link all domestic banks and financial institutions via a central ‘switch’ – in late July. The payments overhaul is aimed at improving efficiency as well as financial

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.