BSP bridging PNG’s financial gap through Wantok Wallet

BSP Financial Group Limited (BSP) has launched Wantok Wallet – a Mobile Banking solution that will enhance financial inclusion across Papua New Guinea (PNG).

BSP Group CEO Mark Robinson, speaking at today’s launch of Wantok Wallet in Port Moresby, highlighted the inherent need for accessible banking solutions for all communities across PNG, in particular the unbanked.

“PNG is home to over 11.7 million people, yet only 25% have access to banking services, leaving 8.7 million unbanked. As the country’s largest financial institution, we serve 2.6 million customers and recognise the growing need for accessible digital financial solutions. Meanwhile, with approximately 4 million mobile phone users, we see a unique opportunity to bridge the financial divide through Wantok Wallet,” Mr Robinson said.

BSP Group GM Retail Ronesh Dayal addressing the press during the launch of BSP Wantok Wallet.

A simple, secure, and accessible solution, Wantok Wallet is designed for easy, everyday use, allowing users to send, receive, and manage money securely via BSP Mobile Banking *131# -without the need for a traditional bank account.

Wantok Wallet offers users:

Cardless cash withdrawals at over 300 BSP ATMs and Cash Agents
One-Time Password (OTP) security for added protection
Seamless mobile access via BSP Mobile Banking

Mr. Robinson expressed confidence in the wallet’s impact; “Beyond serving our existing BSP Mobile Banking users, Wantok Wallet enables us to reach all PNG mobile phone subscribers. As adoption grows, we are confident that Wantok Wallet will transform the lives of the communities we serve, helping them to prosper.

BSP Program Manager from Retail Bank, Penelope Aisi conducting a Wantok Wallet transaction at a BSP ATM without a BSP card, while BSP Group GM Retail Ronesh Dayal, Head of Retail Branch Network Kili Tambua, BSP Chief of Staff Cantika Marjen and Retail Support Officer Luisa Nanai looks on.

To celebrate the launch, Program Manager from Retail Bank, Penelope Aisi, announced a 14-day Wantok Wallet promotion where two winners will be drawn daily to win one (1) of two (2) x K500 daily cash prizes. The prize monies will be credited to the winners’ Wantok Wallet.

“Simply activate your Wantok Wallet and perform a Wantok Wallet transaction, by sending funds, or withdrawing cash at a BSP ATM or Cash Agent to automatically enter the draw. Our system will randomly select two (2) winners every 24 hours, with announcements to be made via BSP Social Media,” Ms Aisi said.