BY PATRICK TOM
BSP Financial Group Limited improved its digital banking system with the launch of a new BSP Pay online with merchant service on Thursday in Port Moresby.
BSP Group Retail General Manager Daniel Faunt has said that due to COVID-19, many companies are reshaping, taking a step back and looking at their business modules.
“What we do at BSP is take the time to empower our clients to adapt to their digital strategies to help exalt resilience and preventative values both locally and in the global market”, did he declare.
“BSP digital banking isn’t just about declaring your business online; it is an idea that expands the business and increases the customer base not only locally but globally through online banking gateways.
He said that as a leading digital bank, BSP does not have a pictorial approach on one side, they creatively design solutions with demographic connectivity value and cost-effective requirements not only in all provinces. from PNG where they operate, but also across the Pacific.
“BSP Pay offers the possibility of offering retail customers access to online services with merchants without the use of a visa or primary card.
“This expands and opens up online commerce for many BSP traders, especially SMEs,” Mr. Faunt said.
“The market is five times larger than that available to traders. “
Once BSP pay is registered and allows the account holder to make an online payment to a BSP registered online merchant securely and instantly without using card details, the only information required is the number. Customer ID which is BSP ID and registered mobile number.
The cost of SMS is 25 toea per transaction which is significantly lower than EFTPoS based transactions and other merchant fees.
“The solution is exciting because it is a first of its kind for Papua New Guinea and across the Pacific,” he said.