The following is a fintech and wider digital economic development view of Papua New Guinea in 2026.
In Papua New Guinea, the distance between a person and a bank account is not always measured in kilometres.
It may involve travelling by boat, crossing mountainous terrain or leaving a rural community for the nearest town. For many households, particularly women and those working in the informal economy, the practical cost of accessing financial services remains considerably greater than the balance eventually deposited.
This makes Papua New Guinea’s fintech story fundamentally different from those of more urbanised markets. Digital finance is not simply being used to make banking faster. It is being asked to reach communities that conventional financial infrastructure has struggled to serve.
As discussed in my previous The Fintech Times article, National Strategy of Papua New Guinea Focuses on Financial Inclusion as Gender Gap Remains, the country entered this decade with substantial gaps in account ownership, digital access and women’s participation. By 2026, progress is visible, but the underlying challenge remains.
According to the International Monetary Fund (IMF)’s 2026 data, Papua New Guinea’s nominal economy is expected to reach approximately $34.4billion, with gross domestic product (GDP) per capita of around $2,630. The IMF projects real growth of 3.8 per cent in 2026, following stronger expansion from last year, while inflation is expected to reach five per cent. Mining, liquefied natural gas, agriculture, fisheries and forestry remain central to the economy, with Port Moresby serving as the country’s commercial and financial centre.
Geography is the first financial barrier
Around four-fifths of Papua New Guinea’s population is estimated to be unbanked or underbanked, according to the Asian Development Bank. This reflects not only income levels but the difficulty of serving a widely dispersed population across islands, highlands and remote rural districts.
Branches and ATMs remain concentrated in larger towns, while unreliable electricity, weak connectivity and transport costs limit access elsewhere. Under these conditions, mobile banking, agent networks and low-cost digital accounts can deliver greater practical value than building another conventional branch.
The opening of a Mama Bank access point in Wau-Waria in June 2026 illustrates the continued importance of combining physical access with digital services. The facility restored formal banking to the district after several years and provides services including EFTPOS and ATM access.
A national strategy with women at its centre
Papua New Guinea’s National Financial Inclusion Strategy 2023–2027 aims to bring an additional two million unbanked people into the formal financial system, with women expected to represent half of the new customers. The strategy prioritises financial literacy, digital infrastructure, consumer protection, green finance and partnerships between public institutions and financial providers.
Progress has been made. The Centre for Excellence in Financial Inclusion reported in April this year that national bank-account ownership had risen above 4.3 million, with more than 1.5 million accounts held by women. However, the gender gap remains substantial, and growth in account numbers does not necessarily mean that those accounts are used regularly.
Indeed, the Bank of Papua New Guinea, the country’s central bank, has acknowledged that access to credit remains low and that the gender gap in financial access has widened despite improvements in account ownership. Women in rural areas continue to face additional obstacles involving identification, collateral, financial literacy and control over household income.
From opening accounts to using them
The next challenge is not simply registration but meaningful usage.
As of December 2022, Papua New Guinea had around 1.27 million mobile-banking accounts, yet women owned only about 30 per cent of them. That historical imbalance explains why the current inclusion strategy places such emphasis on gender-responsive digital products and financial education.
The Centre for Excellence in Financial Inclusion has delivered financial-literacy training to more than 250,000 people, including approximately 120,000 women. These programmes are designed to help customers understand savings, budgeting, digital security and the practical use of financial products rather than merely encouraging account opening.
This distinction is important. A dormant account does little to improve household resilience. A regularly used digital account, by contrast, can enable savings, receive wages, document transactions and eventually support access to credit.
Modernising the payment rails
The Bank of Papua New Guinea continues modernising the national payments system, including electronic transfers, card payments and high-value transactions between financial institutions. Its Retail Electronic Payments System provides common infrastructure for participating banks and financial-service providers.
In November last year, the Asian Development Bank approved a $100million programme intended to improve financial access and maintain Papua New Guinea’s connection to international payment systems. The reforms include stronger e-money regulation, digital identification and measures designed to support online identity verification.
Looking ahead
Papua New Guinea’s fintech progress will not be measured by how many start-ups are founded in Port Moresby. It will be measured by whether a woman in a remote district can open and safely use an account, whether a farmer can receive payment without travelling for hours, and whether a small enterprise can build the financial record needed to obtain credit.
Digital finance cannot remove the mountains or shorten the sea routes separating communities. It can, however, reduce the distance between people and the financial system. For Papua New Guinea, that may be fintech’s most important contribution.
The post Papua New Guinea, Fintech and Wider Digital in 2026 appeared first on The Fintech Times.
