Retail Electronic Payments System (REPS) Monthly Statistics Updates
National Switch Statistics
The Payment Systems Department runs two mission critical systems for the continued operation of business and consumers in PNG, with the support of other departments of the bank. The two systems are Kina Automated Transfer System (KATS) and Retail Electronic Payment System (REPS), which are operated by a dedicated group of employees who ensures their smooth operations. The inability of the payment systems, either KATS & REPS to process payments effectively and efficiently could disrupt nationwide economic activity.
What does REPS Process.
REPS processes card-based transactions using ATMs and EFTPOS terminals. The six members of REPS include commercial banks, microbanks and Savings and Loan organisations. They are BSP, Westpac, Kina Bank, NCSL, MiBank and PMBL. Any ATM or EFTPOS terminal offered by a REPS Member (excluding ATM’s of PMBL will be added in second half on 2020) is open to the local debit cards offered by any other Member. This means a card issued by any of these Members can be used at other REPS Member device making in-store payments easy and access to cash available at virtually all ATMs and EFTPOS counters in PNG.
REPS is a 24/7 system. It operates 24 hours a day, 7 days a week – every day of the year. If people need to make a card-based payment on the weekend or after business hours REPS processes the transaction. An important transaction offered by REPS (and local debit cards) is the EFTPOS Purchase + Cashback. This allows people to make a card payment at a shop and get cash at the same time.
When did REPS Go-Live
The Retail Electronic Payments System (REPS), with the National Switch at its core, commenced operation in 21st July 2019, with three inaugural members, namely BSP, Kina Bank and NCSL and three more institutions joined on 1st September. They were Westpac Bank, PMBL and MiBank. This brings the total of six (6) financial institutions connected to National Switch. Another important development during the period was the acquisition of ANZ Bank Retail Customers by Kina Bank on 23rd September, which resulted to significant increase in volumes processed by the National Switch.
After the launch in July 2019, REPS continued to deliver improved access with minimal disruptions achieving over eight (8) million chargeable transactions (excluding balance enquiries) switched on the 31st of May 2020 valued at K1.55bn. The Project Team has completed the plans for the remainder of the first phase to add payments initiated through mobile channels and more members joining to improve access and increase competition.
In addition to the National Switch REPS introduced a new multi-lateral operating agreement, fees and rules as well as updated policies to provide improved safety and stability for retail payments.
Refer to REPS Statistics and Charts below.
Statistics from all Participating Institutions
(BSP, Kina, NCSL, WPC, MiBank & PMBL)
Total Values and Volumes Processed by National Switch
| PERIOD | VOLUMES
|
CUMU-LATIVE VALUES | |||||||
| Automated Teller Machine (ATM) | Point of Sale (POS) |
Charge-able Volumes1 |
Chargeable Cumulative Industry Volumes |
Total Volumes |
K’ Million |
||||
| Month |
With- drawal |
Bal Enq
(Not charged) |
Cumu-lative
Bal Enq |
Purch &
Cash Back |
Purchase | ||||
| 2019 | |||||||||
| July2 | 894 | 483 | 483 | 870 | 2,836 | 4,600 | 4,600 | 5,083 | 0.92 |
| August | 3,204 | 1,998 | 2,481 | 2,847 | 9,721 | 15,772 | 20,372 | 22,853 | 4.39 |
| September3 | 146,216 | 85,246 | 87,727 | 224,816 | 329,624 | 700,658 | 721,030 | 808,757 | 124.57 |
| October4 | 221,732 | 123,180 | 210,907 | 301,764 | 474,973 | 998,469 | 1,719,499 | 1,930,406 | 302.50 |
| November | 223,217 | 135,236 | 346,143 | 290,022 | 459,192 | 972,431 | 2,691,930 | 3,038,073 | 476.39 |
| December | 256,893 | 165,796 | 511,939 | 342,080 | 533,208 | 1,132,181 | 3,824,111 | 4,336,050 | 693.60 |
| 2020 | |||||||||
| January | 234,161 | 137,836 | 649,775 | 306,429 | 477,900 | 1,018,490 | 4,842,601 | 5,492,376 | 889.72 |
| February5 | 220,542 | 135,624 | 785,399 | 285,966 | 446,168 | 952,676 | 5,795,277 | 6,580,676 | 1,069.00 |
| March | 205,550 | 128,948 | 914,347 | 284,110 | 444,724 | 934,384 | 6,729,661 | 7,644,008 | 1,233.99 |
| April | 177,090 | 122,814 | 1,037,161 | 263,219 | 382,522 | 822,831 | 7,552,492 | 8,589,653 | 1,375.57 |
| May | 218,001 | 128,788 | 1,165,949 | 345,990 | 493,460 | 1,057,451 | 8,609,943 | 9,775,892 | 1,558.21 |
1Sum of “Withdrawals, Purchase and Cash Advance and Purchase only”, Excluding the “Balance Enquiry”.
2On 21st July, National Switch Went-Live with BSP, Kina Bank and NCSL.
3In 01st September 2019, additional three institutions, Westpac, PMBL & MiBank joined the National Switch and following on 22nd September Kina Bank acquired the Retail business from ANZ Bank. This resulted to substantial increase in the volumes of transaction switched via the National Switch.
410-Oct-19 – A milestone of over one (1) million chargeable transactions were processed by the National Switch.
506-Feb-20 – Another milestone of over K1.0 billion were processed and transferred by the National Switch.
REPS Charts
This chart indicates the monthly volumes by type of cards used for payment and aggregate values in K’ millions.
NB: Monthly industry values (K’ millions) shown in this chart, when added together month by month since go-live in July 2019, will equate to the cumulative values (K’ millions) shown in the statistics table on the previous page.
Payment Systems Department
10th June 2020