Kingdom’s fintech adoption soars, digital payments rise

Cambodia’s adoption of financial technology (fintech) has been showing rapid growth recently, despite the current low rate, Mekong Strategic Partners Co Ltd (MSP) said on Wednesday.

MSP estimates that the Kingdom’s digital payment market is set to be worth $2.215 billion this year – a 37 per cent increase on last year – and will be worth $3.469 billion next year.

Speaking at Cambodia Fintech Day 2019 on Wednesday, MSP partner Kem Bora said: “Currently, payments through agents such as Wing . . . and TrueMoney are all the rage in Cambodia, but digital payments through mobile apps account for less than 10 per cent.”

In full: https://www.phnompenhpost.com/business/kingdoms-fintech-adoption-soars-digital-payments-rise

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