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Bank South Pacific CEO Fleming says 5G beneficial

Papua New Guinea based BANK South Pacific (BSP) group chief executive office Robin Fleming says banks will benefit indirectly from any network technology that provides high speed capacity.
“Any technology that improves internet speeds and enables businesses and customers to undertake more retail transactions using mobile phones will have benefits for participants in the payments system,” Fleming told The National when asked about his thoughts if 5G (fifth generation) mobile network system comes into use in the country.
Last week, Communications and Information Technology Minister Timothy Masiu has put on hold the rollout of a 5G trial which was supposed to take place after a prelaunch and agreement between Huawei and bmobile on Dec 19.
However, Fleming said if 5G came on board, “banks will benefit indirectly from these improvements.” He said: “A 5G network will provide users with data download speeds up to 20 times faster than 4G.
“The faster internet speeds permit high quality content to be accessed by mobile phone users with other benefits, including rapid internet responses and quicker completion times for internet based services.
“That said over and above the capital investment required by telecommunications operators to move a digital network 5G and 5G coverage would be limited geographically initially in any event. Fleming said. Fleming said users also needed to upgrade their handsets to 5G compatible devices which are generally more expensive then 4G handsets.
“In PNG, only approximately 35 per cent to 40 per cent of mobile subscribers have smart phones and all this subscribers would have to upgrade their handsets to be able to take advantage of 5G capability,” he said.
“Certain mobile phone developers such as Apple have not yet developed 5G compatible phones and they are not expected to release an iPhone with 5G modems.”

The National/PNG eHow

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PNG Communition and Technology Minister stops 5G Trial

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