Logo of Phnom Penh Post newspaper Phnom Penh Post - Wing promotes mobile wallets to overcome the attachment to cash



Wing promotes mobile wallets to overcome the attachment to cash

Content image - Phnom Penh Post
One of 5,000 Wing Cash Xpress agents in Cambodia. Photo supplied

Wing promotes mobile wallets to overcome the attachment to cash

Wing (Cambodia) Limited Specialised Bank is the most trusted and leading mobile money services provider in Cambodia with an approximate 5,000-strong Wing Cash Xpress agent pool nationwide. With innovative products and services such as local money transfer, phone top-up, bill payment, and online payments, Cambodians in urban and rural areas have enjoyed multiple ways of moving money fast, safely and securely through Wing.

As a leader in the fast-paced mobile financial services industry, Wing has built a unique technological expertise to support the constant innovation required by the industry.

Operating as an innovative mobile money service in Cambodia – a traditional, third world nation – is very challenging. For example, 75 percent of the nation still lacks access to financial services as cash is still preferred.

On the other hand, there is higher mobile phone penetration than bank product ownerships. Cambodia has 139 percent mobile penetration rate, the third highest mobile-cellular penetration country in ASEAN after Singapore and Malaysia. As such, Wing tasked itself to be the innovator in the industry by bringing new capabilities to the market.

With a perpetual focus on innovation and customer needs, Wing continues to expand its list of products and services in the market via enhancing its technological capabilities and continuing to invest in IT infrastructure and systems development. Thus, Wing is able to make it easier for both end-consumers and corporate partners to digitize payments and make everything seamless and cashless.

‘This year, we enhanced our Wing Account. Because of our IT infrastructure, we can easily make changes in our system to enhance our products’ benefits. Now customers can pay as low as 2,400 riel to send money and get instant 5 percent cashback when they do phone top-ups,” said Jojo Malolos, CEO of Wing.

The Wing Money mobile app – available in both iOS and Google Play Store – was also launched, allowing customers to have Wing services on the go, doing transactions like phone top-up while in the convenience of their homes.

The app has managed to positively change the mindset of people regarding financial services and money transactions from having to conduct face-to-face transactions at Wing Cash Xpress branches to a more modern online service that can be used anytime, anywhere – with the Wing Account Card.

In addition, Wing continues to invest in B2B solutions that enable cashless ecosystems for different segments covering even SMEs and micro-finance payment needs. Wing also has plug and play Application Programming Interface (API) capabilities, leading to its partnerships with more than 80 companies across different industries.

“By providing such groundbreaking services through mobile money technology that make financial services and solutions accessible, Wing empowers not just consumers but also businesses in Cambodia to create better firms for a better future,” added Mr Malolos.

Through all these, Wing’s objective is to be the leading FinTech (financial technology) partner to support international groups and local entrepreneurs in developing their business using mobile payments in Cambodia.

For more information, please visit us at www.wingmoney.com, or contact us at 023 999989.

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a