Nabilah S
Papua New Guinea’s leading bank, Bank South Pacific (BSP), has announced the cancellation of all Kundu Cards held by customers, effective November 23, 2024. Customers with both a Kundu Card and a BSP VISA Debit Card are advised to exclusively use their VISA Debit Cards after this date.
BSP has cited security concerns as the main reason for discontinuing the Kundu Card. The bank emphasized that transitioning to the VISA system will offer customers improved protection and safety in managing their accounts.
Despite these assurances, some customers have expressed concerns about the fees linked to the BSP VISA Debit Card. The transition may result in increased costs for account holders, adding financial strain through transaction and service fees.
BSP’s decision has faced criticism from those who feel the bank is prioritizing profit over customer convenience. The additional fees associated with VISA card usage have prompted some to accuse BSP of exploiting the security measure as a means to increase revenue.
The bank, however, remains steadfast in its position, urging customers to benefit from the enhanced security features provided by the VISA Debit Card. BSP has not yet released additional information on how these changes will affect its overall services.
