Thailand
Cambodia: Mobile services often first step to banking
Cambodia: Mobile services often first step to banking
Thu, 14 July 2016 – The rapid growth in the number of Cambodians using mobile money services to transfer remittances is a positive step towards greater financial inclusion, and is serving as a gateway to financial services for the largely unbanked rural population, experts said yesterday.
Panelists speaking at the Mekong Financial Inclusion Forum said Cambodians until recently relied on informal methods of remitting money to their families, such as sending money by bus or entrusting it to a person travelling to their home village.
However, the advent of Wing in 2009 and the subsequent launches of mobile money transfers by several local banks and microfinance institutions (MFIs), has given people a safer and more convenient alternative. Read More?