This is because Westpac Bank customers are now able to more transactions via electronic channels than in bank branches.
Westpac PNG Head of Retail, Cameron Penfold, said electronic channels such as mobile banking, ATMs, EFTPOS, internet banking and Instore banking are taking over as the preferred options for customers, with branch visits now largely only for transactions that need specialist advice from personal or business bankers.
“Gone are the days when our customers travelled to town, or stood in queues to bank – now they just log in to internet banking or mobile banking and can have transactions done in seconds,” Penfold said.
“And people running businesses have benefited immensely from the influx of electronic banking, having more time to spend in the business as well as better payment options for customers.”
Westpac Instore Merchant, Betty Kaime from Minj in Jiwaka Province says: “Instore Banking has gained popularity with the local community where I operate my establishment at and it saves a lot of time and money for the people to travel into Hagen to do their deposits and withdrawals or other banking functions.”
Kaime said the digital banking revolution has made life so simple and banking so much easier and efficient within a short period of time and over distances.
There are threev favourite electronic channels that Westpac bank customers are warming to which include, mobile, internet and instore banking.
With Mobile Banking - Westpac offers one of the best USSD Mobile Banking platform in PNG, and customers are using it to:
- top up their phones
- pay money to their friends and families
- check balances and retrieving mini statements
They are also looking forward to more functions that will soon be introduced!
Tech-savvy Westpac customers are using internet banking to:
- Pay money to other people and send telegraphic transfers
- Pay bills through BILLPAY
- Do all transactions they used to perform in the branch.
Westpac customers enjoy the security of “second factor authentication” does not allow anyone to transfer money from the customers’ account until the customer confirms receipt of a security SMS.
Many rural and urban customers are taking advantage of Instore Banking, which:
- Turns local shops into a bank branch and
- Brings unbanked Papua New Guineans into the banking system so they can save and build a banking history which will help to access credit in future.