back Back

3 Cambodian FinTech start-ups disrupting the nation’s financial sector

By Leandra Monteiro

July 21, 2021

  • America
Share

FinTech, ASEAN, Cambodian, financial sector, Start-ups, unbanked, Clik, Pi Pay, WingThe Cambodian FinTech industry is still in the nascent phase and lacks behind its ASEAN neighbours like Singapore and Vietnam. However, the country’s sector is growing steadily on the back of rapid adoption of digital payments and a large population of unbanked.

Armed with a huge untapped potential, the progression Cambodia has made over the last decade in terms of infrastructure, GDP growth and foreign direct investment, make the Kingdom a prime destination for FinTech startups to thrive.

Infact the presence of a number of FinTech start-ups has pushed Cambodia’s banking and financial sector to expand their existing services. Here’s a look at the top Cambodian FinTech start-ups that have helped shaped the sector:

Clik: Founded in 2016, Clik Payment is developing a payment processing application designed to cater to Cambodia’s fragmented payment industry. The FinTech is a Phnom Penh-based payment aggregator that allows offline merchants and their consumers to carry out cashless payments using mobile wallets, as well as debit and credit cards.

The Cambodian company’s platform will aggregate all payment methods and networks under its platform, in addition to collecting transaction data, providing valuable insight on consumers to the merchants. The platform will also come with loyalty plans and marketing tools for merchants.

Pi Pay: Launched in 2016, Pi Pay is a Cambodian cashless payments provider focusing on alternative payments. It is the largest digital wallet in Cambodia’s nascent FinTech space. Pi Pay stands out among other Cambodian FinTechs because of its strategic partnerships with key financial institutions and internet financiers such as Alipay, WeChat Pay and Korea’s KB Kookmin Bank.

Partnering with these key institutions enables Pi Pay to tap into the large tourist market in Cambodia. Furthermore, Pi Pay is positioning itself as a one-stop shop for FinTech in Cambodia, backing strong support for government initiatives such as financial inclusion and boosting cashless payments.

Wing: Wing Limited Specialised Bank (Wing) is a Cambodian mobile banking service provider. The company provides a range of specialized services varying from local and international money transfers, bill payments, phone top-ups and online shopping, to QR code payments, and payroll and disbursement services to merchants.

Since its launch in 2009, the company has been driven by a mission to a mission to provide a bank for the unbanked. The company has partnered with key global financial players like Mastercard, AliPay, and Visa in order to developing payroll services which can help small and medium enterprises (SME’s) as well as large established companies.

ALSO READ: Global FinTech Use Cases Report 2021

Previous Article

July 21, 2021

Mastercard enhances its card program to simplify cryptocurrency-to-fiat conversion

Read More
Next Article

July 21, 2021

Mastercard enhances payment card offering for Cryptocurrency companies

Read More








IBSi Daily News Analysis

March 22, 2024

America

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 28, 2024

Payop partners with Tink to add Pay by Bank in Europe

Read More

March 22, 2024

FinTech Focus: Catch latest developments of the week

Read More

March 21, 2024

Micropayment and Tink partner to launch Pay by Bank at checkout

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023