Bank to sign pact with state electricity provider that will let ACLEDA's customers pay their power bill via any of its cash-point machines from today, saving a trip to the utility's branches

When we have success with this, we will duplicate it in other provinces ...

Phnom Penh customers of Electricity du Cambodge (EdC) who bank with ACLEDA should be able to pay electricity bills at the institution's automatic teller machines from today following the signing of a memorandum of understanding between the two companies.

The deal is to be signed by Keo Rottanam, the government delegate in charge of managing the electricity supplier, and ACLEDA Bank President and CEO In Channy at Raffles Hotel Le Royal.

Keo Rottanam said Sunday that the service would initially be available only to Phnom Penh customers, as the electric company did not have the resources to roll the service out at its other branches.

However, he said, customers would be able to pay using ACLEDA bank machines across the Kingdom.

"When we have success with this, we will duplicate it in other provinces and cities nationwide - but we can't now because we would need to spend too much money," he said.

EdC has around 200,000 customers in Phnom Penh, or around 80 percent of the total nationwide.

Keo Rottanam said ACLEDA was selected because of its wide branch network, "good reputation" for customer service and the compatibility of its IT systems with those used by the electricity supplier.

ACLEDA Bank has 63 ATMs nationwide and plans to have 105 ATMs by the end of this year, In Channy said.

"Our ATMs are spread over a wide coverage area, which is why EdC selected us as a partner," he said.

Convenience in a card

Customers would be charged 1,000 riels (US$0.24) to make a payment, which In Channy said would be cheaper than travelling to pay at EdC's branches and more convenient.

"From now on, customers don't have to waste their time to directly pay their electricity bill at EdC's branches. And if they go somewhere outside of Phnom Penh, they can still pay their electricity bills using our ATMs."

In Channy said it was a win-win arrangement.

"This will draw more customers in Phnom Penh to use ACLEDA's ATMs, which will make it easier for us to manage our flow of riels than if everyone withdrew riels to pay their bills," he said

Payments will be automatically changed into riels, meaning there will be no difficulty for those with US dollar bank accounts.

Tal Nay Im, director general of the National Bank of Cambodia could not be reached for comment Sunday.