However, the challenge of all the regulatory institutions are to ensure that transactions conducted are cost effective, efficient, and poses a low risk on the consumers. This requires close coordination in the area of regulation especially monitoring and licensing, provision of technological infrastructure and ensuring maximum benefit for consumers.
The Bank has commenced a major review of the payments system in Papua New Guinea in 2009. Review of the payments system is necessary for promoting a sound and efficient system that will reduce costs to both businesses and consumers and also improve monetary policy transmission.