He said through this medium, money was able to move from one person to another quickly.
“Moving into the 21st Century, the next opportunity appears to be complex but in reality, it’s already here in the market place – and that’s the internet economy,” he said.
“There is a retail bank that made a whooping deposit of over K5million under nine months because of the internet.
“As a bank executive recently commented, access to finance is a great PNG story. But it’s a tip of the iceberg.”
Toua said a time would come when small to medium enterprises would tap into that era.
“The next generation wave, we are all waiting to finally bring SMEs to not only into the domestic market, but potentially, the global audience is e-commerce.”
Toua said regional and international events held in the country had benefitted the private sector.