Wing (Cambodia) Limited Specialised Bank has taken another innovative step to promote financial inclusion in the Kingdom.
Last week, the mobile banking service provider partnered with Cambodia Microfinance Association (CMA) to make the paying of membership fees simpler – by using either its mobile app or through its agents.
The new partnership allows some 101 CMA members to pay their membership dues via Wing’s services nationwide.
“With Wing, paying CMA membership fees is either at the convenience of your fingertips with our mobile app or through our widespread network of Wing Cash Xpress agents.
“We are delighted to partner with CMA, bringing our cutting-edge technologies and know-how to grow Cambodia’s microfinance sector,” Wing CEO Manu Rajan said.
Wing, a homegrown company that pioneered mobile banking in Cambodia, signed a memorandum of understanding with CMA on Friday to launch this new service.
Established 11 years ago, Wing has created a robust mobile banking ecosystem that caters to the needs of Cambodians across the provinces by offering an array of services – including money transfers, bill payments and phone top-ups, as well as online and offline cash payments.
“Using Wing’s robust and secure network as a payment option is an important step for us as we have been exploring ways of using technology to provide convenience for our members,” said CMA executive director Phal Vandy.
It is an ideal move, as the arrangement will help the around 80 per cent of CMA members who live in rural areas, with the majority of them women.
“We consider this opportunity to partner with one of the largest associations of professional organisations in Cambodia as further recognition of Wing’s customer-centricity and ability to use technology to improve the lives of millions of poor Cambodians.
“I am glad that Wing and CMA share the same vision of driving financial inclusion through providing Cambodians with easy access to finance. Over the past 11 years, Wing has stayed committed to ensuring that Cambodians enjoy a wealth of convenience and security when it comes to mobile financial services.
“We are committed to making fundamental differences to living standards in the Kingdom of Cambodia, as well as working towards achieving our goal of creating a cashless society,” Manu said.
He added that CMA has revolutionised the microfinance industry in Cambodia, while setting a great example for the rest of the world to emulate in providing easy access to finance for millions of unbanked and underbanked people.
“Wing is privileged to be part of this success story in the Kingdom in our humble capacity as a specialised bank in payments,” Manu said.