Visa’s innovative payment solutions are set to boost economic growth and financial efforts in Papua New Guinea (PNG) over the next five years. Anthony Watson, Visa’s Country Manager for New Zealand and the Pacific Islands, revealed this development at the Innovation PNG Conference in Port Moresby, emphasizing that these solutions would help facilitate consumer and merchant transactions across the country.
As part of PNG’s 2030 vision, Visa will introduce low-cost, mobile-based payment services that enable fast and secure payments for sellers, secure digital trade services, and facilitate international money transfers for foreign trade. This initiative comes as part of PNG’s ongoing efforts to improve its digital infrastructure, following the introduction of its national digital identity policy and the SevisPass digital ID system.
The introduction of these payment solutions is critical for PNG’s economic trajectory, driven by an expanding base of micro-sellers, growing mobile adoption, and a youthful workforce that is expected to represent 25% of the population by 2030. These demographic and technological factors, combined with booming sectors like foreign trade, will benefit significantly from these payment innovations.
Watson emphasized that younger generations in PNG are seeking diverse, secure, and transparent digital payment options, along with loyalty programs offering benefits and experiences suited to their lifestyles. He also highlighted that collaboration and innovation are vital for navigating the rapidly evolving payment landscape, and Visa is committed to supporting the country’s growth through its partners and clients.
Visa’s investment in PNG follows its broader commitment to payment infrastructure, having invested $10 billion over the past five years to enhance payment systems globally.
Digital Signature Platform to Strengthen PNG’s Digital Economy
In another key development, PNG has also introduced a digital signature platform as part of its digital transformation efforts. The state-owned ICT services company, PNG DataCo, has partnered with digital signature firm SigniFlow to launch a platform that provides secure, compliant, and efficient digital signing solutions for businesses and government institutions.
David Saunders, Regional Director for SigniFlow in APAC, stated that this platform ensures data sovereignty by keeping signed documents within PNG, meeting regulatory requirements and enhancing trust in electronic transactions. The platform aligns with PNG’s digital governance strategy, promoting efficiency and security in government and business transactions.
SevisPass Expands into Security Sector
Additionally, PNG’s SevisPass digital ID system is being rolled out in the country’s security sector. A Memorandum of Understanding (MoU) between the ICT and Police Ministries will explore using SevisPass for identity verification and cybercrime investigations. The digital ID will also be used for border management, national events, and securing key economic zones, as well as preparing for the 2027 National General Elections.
These developments highlight PNG’s commitment to advancing its digital infrastructure and securing its digital economy as it moves toward greater economic growth and technological innovation.