BSP is committed to further reaching the unbanked and drive active participation in financial inclusion. BSP Sub Branch and Agents were established to provide banking services to people living in rural areas throughout PNG and the South Pacific.
In 2011, BSP embarked on the Agency network, the concept was to bring banking services to the unbanked.
The success of the BSP Agency network made way for BSP to test an intricate payment eco-system that allowed customers accessibility to their accounts in rural areas and townships.
The system was piloted in with cocoa buyers, sellers and merchants which proved to be a success and was rolled out other centers in the PNG.
The payment eco system is made up of a network of merchants and agents connected to a Sub Branch which is linked to a Branch.
This network of Agents and Sub branches are not just access points around the country, it is also able to open Kundu Accounts and accept deposits and withdrawals for people in remote/rural areas that are located far away from main towns and cities. With this concept, customers are able to do basic banking transactions without the need to travel long distances.
The Agents are armed with computer tablet, and a wireless EFTPoS terminal, that are able to facilitate Account opening with instant issuance of a KunduCard.
BSP is the first to use technology to deliver innovative banking services to the most remote rural areas in PNG and banking the unbanked.
Through an expanded network of Sub Branches, Agents and Payment Processors, and in collaboration with local communities, BSP is delivering the very best banking services for a range of diverse customers - close to customers' homes.
This growing "ecosystem" of currently 42 Sub Branches locations and over 200 Agent locations in PNG offers entrepreneurial opportunities for Agents.