Westpac To Launch 'In Store Banking' Project

News: Australia's Westpac plans to launch a new pilot project 'in store banking' in Papua New Guinea, according to the head of retail banking, Adam Downie. The move is part of Westpac's strategy to reinforce retail offering and provide banking services to the 'unbanked' areas of the country. The bank is seeking to take on a reversed merchant service, cooperate with small stores in rural areas that will enable clients to deposit, withdraw or transfer funds, Downie added. He also said that the bank expects to double the number of accounts with the launch of the project.

This article is tagged to:
Sector: Country Risk
Geography: Papua New Guinea, Papua New Guinea, Papua New Guinea, Papua New Guinea

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