KATS is the heart of the new National Payments System that will move all Banks from a paper based interbank payments system to a fully electronic payments system. The Bank of PNG is providing the framework and infrastructure, i.e. the computer hardware, software and communications technology that will enable this.
KATS will enable banks in PNG to offer the same electronic services as banks overseas do. Over time, more and more payments will be made electronically using a variety of methods such as the Internet, debit and credit cards, and mobile phones. Increasingly, these transactions will settle in real time (instantaneously). KATS will improve the safety and efficiency of the Payments System in PNG.