By SEPKOLIN WALNE
Papua New Guinea has taken a decisive step into digital finance, officially launching the Electronic Funds Transfer (EFT) payment system to replace outdated cheque transactions.
The reform, unveiled at the Prime Minister’s Department by Finance Secretary Samuel Penias and Chief Secretary to Government Ivan Pomaleu, marks a major shift in how government pays its bills—modernizing operations, cutting costs, and improving security.
Finance Secretary Penias said the rollout begins with the Prime Minister’s Department and will expand to Treasury and other agencies. “It is a shift away from paper-based transactions toward faster, cheaper, and more transparent service delivery,” he said.
Chief Secretary Pomaleu noted that government had lagged behind the private sector and ordinary citizens who already embraced electronic banking.
“Under the cheque system, officers collected cheques, queued at banks, waited for clearance, and only then delivered transactions. It created delays, unnecessary administration, and inconvenience for both government and suppliers,” he said.
The EFT initiative supports the national reset agenda, driving digital transformation, accountability, and efficiency across the public service.