Fintech Cambodia plays a crucial role in developing and becoming an integral part of the digital economy. For businesses, this means rapid development in areas that were previously done manually by workers.
Overview of Fintech in Cambodia
Businesses can process payments faster and gain customer trust through Fintech Cambodia technologies and fast service. They provide access to financial transactions even in areas where it is limited. Thanks to fintech, the country is gaining new tools to support small businesses.
What is Tech-driven Finance in Cambodia
Tech-driven finance is the use of digital platforms to provide financial services. This includes mobile payments, e-wallets, credit services, etc. Expanding financial inclusion and the fintech ecosystem reduces dependence on cash and opens up access to online shopping for everyone.
Fintech Development and Economic Inclusion
Fintech across Cambodia helps to bring the unbanked into the economy. People who were previously financially isolated can now shop online, pay for services, make payment transactions, get loans, etc. Thus, promoting financial inclusion increases the flow of customers to local businesses.
Cambodia Financial Innovation Development Policy 2023-2028
The Financial Technology Development Policy 2023-2028 aims to support innovative digital finance companies and expand the digital economy. It helps create an environment where all transactions are carried out smoothly.
Historical Growth of Tech-driven Finance in Cambodia
The historical development of fintech is as follows:
| Year | Key events | Number of fintech companies | Transaction volume ($ million) |
| 2015 | The start of the active growth of mobile money | ~ several dozen (data still limited) | ~60 million mobile money transactions per year |
| 2019 | Significant proliferation of fintech startups, QR and mobile payments; formation of an ecosystem | ~50 digital finance companies, according to the FinTech roadmap | – |
| 2020 | Accelerating digital payments during COVID, increasing the number of mobile accounts | ~300 fintech companies, according to Pi Pay / other sources | 266.5 million mobile money transactions |
| 2021 | Launch or active scaling of Bakong (CBDC / digital payment system) | – | NBC reports that 343.8 million e-wallet transactions worth 415.5 trillion riels were made in 2021 |
| 2022 | FinTech development policy being prepared; e-wallet growth | The central bank says 69 financial institutions provide mobile payments. | Approximately 1 billion transactions per year, valued at ~$272.5 billion according to government fintech policy. |
| 2023 | The massive growth of Bakong, QR payments, and digital inclusion | – | In 2023, the number of mobile/digital payments (mobile payments + QR) increased to 1.1 billion transactions, and the volume was $492 billion, according to NBC. |
This indicates a promising future for fintech.
Fintech Sector and Companies in Cambodia
The National Bank of Cambodia today identifies many participants in this area, for example, mobile wallets, lending platforms, etc. Most platforms work as intermediaries between businesses and customers.
Leading Financial Technology Firms in Cambodia
Today, the following companies operate in the financial sector: Pi Pay, Truemoney, PAYGO, Huiwang Payment, Payluy, and others. All of them were founded in 2018 and are located in Phnom Penh.
Non-Bank Financial Services Authority and Regulatory Environment
Since July 1, 2020, the National Bank of Cambodia has been regulating even the non-banking services sector. This, in turn, has triggered changes in financial documents. The regulated sector now includes insurance companies, factoring companies, lending platforms, and even pawnshops.
Microfinance Institutions and Fintech Collaboration
Microfinance institutions are actively collaborating with fintech companies. This allows for improved access to microloans among the Cambodian population.
Top Cambodian Tech Finance
The most commonly used companies include the following:
| Company | Services | Year of foundation |
| Pi Pay | Mobile wallet, transfers, online payments, QR, social features | 2015 |
| Truemoney | Mobile payments and e-wallet solutions | 2015 |
| PAYGO | Mobile wallets support for other systems | 2012 |
| Huiwang Payment | Cryptocurrency-based payments | 2005 |
| Wing | Mobile payments, transfers, QR payments, transactions for the underprivileged population | 2009 |
It is worth choosing a company with experience and good security.
Electronic Payment and Financial Services Innovation
Electronic payments are developing their capabilities in the areas of partnership.
Digital Payment Solutions in Cambodia
At this level, customers make transactions through mobile applications, online platforms and QR codes. They support different currencies and have fast processing.
Mobile Payment Apps and E-Commerce Integration
Mobile applications cooperate with e-commerce platforms. Thus, they contribute to increasing conversion and attracting new customers.
Assurance Measures and Financial Stability
The systems use SSL, tokenisation, multi-factor authentication, and 3D Secure to protect users from fraud.
Comparison of Popular Electronic Payment
The main characteristics of fintech companies are as follows:
| Platform | Fee | Speed | Coverage |
| Pi Pay | 1-2% | Instant | Local |
| ABA Digita | 0.5-1.5% | Instant | National |
| PayWay | 1% | Instant | Local + International |
| TrueMoney | 1-2% | Instant | Local |
Such indicators allow businesses to freely build their payment structure.
Policy and Regulatory Framework
Government policy actively supports the introduction of new technologies in the financial sector.
Financial Progress Development Policy
Financial services development policies aim to stimulate innovation in digital finance. They also contribute to expanding financial inclusion.
Role of Economy and Finance Ministry (Aun Pornmoniroth)
The Ministry of Economy and the Cambodian government oversee policy implementation. It provides regulatory partnership and stimulates the development of the fintech sector.
Supporting and Growth
Regulatory rules and sandbox programs foster the development of innovative solutions. They allow new companies to safely test products in the market.
Regulatory Guidelines for Digital Finance Companies
Digital financial companies must comply with the NFSA’s payment assurance requirements. They must also protect customers’ personal data.
Benefits and Impact of Cambodian Tech in Finance
New technologies of this type have benefits for both businesses and the general population.
Driving Digital Financial Progress
Fintech contributes to the digitalisation of the economy and the faster implementation of new financial services.
Enhancing Development
Digital services improve access to finance, simplify payments, and increase the financial literacy of the population.
Boosting Economic Growth
The development of fintech in Asia-Pacific stimulates e-commerce, attracts investment and creates new jobs.
Impact Metrics
The turnover of transactions through platforms is as follows:
| Metrics | Value | Sources/comments |
| Number of users | 19.7 million | NBC Annual Report 2023: 19.7 million registered e-wallet accounts. |
| Transaction volume | 75,8 млрд USD (2023) | NBC report: 601.3 million transactions |
| Economic inclusion (% of adult population) | 67% | NBC Report (2022): 67% of adults use formal financial services |
In the future, companies will continue to grow.
Challenges and Opportunities in Cambodian Fintech
The main challenge in the field of electronic payments is ensuring assurance. This is a key aspect of any platform, as customer trust ensures its future functioning.
Security and Fraud Prevention
To mitigate these risks, companies are implementing multi-level systems that monitor suspicious transactions in real time.
Access to Funding and Investment
Financing startups and innovative solutions requires support from local and international investors.
Regulatory Challenges and Market Opportunities
The development of sandbox programs and support of the NFSA allow innovative fintech industry solutions to test products first in a controlled environment.
Future Trends and Emerging Technologies
In the future, AI will be actively implemented in fraud detection. Experts also predict the development of biometric payments and blockchain technologies.
Case Studies: Successful Fintech Implementations
The introduction of new financial technologies is generating a rapid development of customer orientation. They cover the basic needs of users.
Mobile Banking Success Stories
ABA and Acleda attract new customers through clear and secure mobile platforms.
Digital Payment Integration in E-Commerce
PayWay allows you to integrate online payments into e-commerce. Their technologies increase conversion and satisfy user needs.
Fintech Solutions Supporting SMEs
Small and medium-sized enterprises get access to all the necessary functions. Among the latter are loans, mobile payments. An important element is analytics, which is needed to optimize business processes.
FAQ: Fintech Cambodia
What is fintech in Cambodia?
It is the use of technology to provide financial services in a digital format. It is aimed at improving the financial flow of the business.
How does fintech promote financial technology progress in Cambodia?
Fintech provides fast, safe and convenient payments, expands financial inclusion and supports e-commerce. It allows you to simplify those processes that were once done manually.
Who are the leading fintech companies in Cambodia?
Such companies include ABA Digital, PayWay, TrueMoney, and Acleda Digital Services.
What is Cambodia’s 2. fintech development policy until 2028?
The fintech development policy until 2028 is aimed at innovation, digitization and stimulation of economic growth.
How does the regulatory environment support fintech growth in Cambodia?
It supports the overall system through the NFSA, sandbox programs and payment security and financial stability requirements.
What role do digital payments and microfinance play in Cambodian fintech?
The assurance of procedures is supported through tokenization, 3D Secure, SSL and multi-factor authentication.
How is financial security ensured in Cambodian fintech services?
The assurance of procedures is supported through tokenization, 3D Secure, SSL and multi-factor authentication.
What are the future trends in Cambodia’s fintech sector?
Future trends include AI in fraud detection, biometric payments, blockchain, integration with e-commerce and automated financial service providers.
