Cambodian diaspora can now send money instantly to more than one million Wing mobile banking accounts or for collection as cash at over 5,000 locations
Phnom Penh & London, 30 January 2018: Leading digital money transfer service, WorldRemit, and Cambodia’s largest mobile banking services provider, Wing Cambodia Limited Specialised Bank, have launched instant money transfers to Cambodia.
The new service enables the Cambodians living and working in over 50 countries – including the United States, France, Australia and Canada – to send money to Wing’s more than one million mobile banking accounts. Wing account holders are then able to send money domestically, pay bills, use these funds in over 8,000 merchants, or simply cash out through Wing’s extensive agent network.
Recipients can receive money in either US dollars or Cambodian riel. Funds are deposited directly into Wing accounts or collected at over 5,000 Wing Cash Xpress locations across the country.
International money transfers are simple using WorldRemit’s convenient, digital-first model. Funds can be sent from the WorldRemit phone app or website, without spending time and money visiting a brick and mortar agent.
Mobile banking services are increasingly popular across South Asia, and in 2016 the industry trade body GSMA, reported that the region accounted for 40 per cent of all new registered accounts. This is being driven by services, such as Wing’s, which enables Cambodians to send and receive money using a mobile phone.
Cambodia’s million strong diaspora plays a crucial role in the country’s economy. The World Bank reported that in 2015 Cambodia received over $400 million in remittances.
Ismail Ahmed, founder and CEO at WorldRemit, commented: ‘This partnership will allow the hard-working Cambodian diaspora to send money back home to family and friends in the most convenient way possible.’
‘We are delighted to be partnering with a company that has pioneered mobile banking services in Cambodia, and ensured that millions of Cambodians across the country can access financial services at the touch of a button.’
“Wing is pleased to be partnering with WorldRemit to bring a new level of convenience to Cambodians living abroad” said Jojo Malolos, CEO of Wing. “This partnership brings international money transfer to the next level — sending money anywhere in Cambodia from Cambodians anywhere in the world online. We are bridging the gap and making it much easier for our customers abroad to send their money home to their loved ones, who can collect instantly through a Wing Account or cash out at any of our 5,000 Wing Cash Xpress agents nationwide.”
Follow this link to find out how to send money to Cambodia.
Follow this link to find out how to receive money in Cambodia.
WorldRemit is changing the way people send money.
It’s easy – just open the app or visit the website – no more agents.
- Transfers to most countries are instant – send money like an instant message.
- More ways to receive (mobile money, bank transfer, cash pickup, and mobile airtime top-up).
- Available in over 50 countries and over 148 destinations.
- Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack.
Wing (Cambodia) Limited Specialised Bank is Cambodia’s leading mobile banking services provider committed to providing financial inclusion via mobile banking services to the unbanked and under-banked. Wing is also one of the few specialised banks in the world.
Launched in 2009, Wing provides ways for Cambodians to send and receive money anytime, anywhere using a mobile phone. Wing’s innovative products and services have allowed every Cambodian access to financial services such as local money transfer, instant international money transactions, phone top up and bill payment.
Wing’s success was recognised when it was named ‘Best Mobile Payment Solutions Cambodia’ in the prestigious Global Banking & Finance Awards 2017.
Wing remains the leading mobile money and electronic payment service provider in Cambodia with 100% district coverage via our nationwide network of 5,000 Wing Cash Xpress outlets, more than 8,000 merchants and tie-ups with global industry leaders including Mastercard and WorldRemit.
Wing also provides funds and payment solutions to the corporate sector via our enterprise services. With Wing, small and medium enterprises (SMEs) and companies can use Wing’s payroll and disbursement services for their employees, helping growth and the spread of payment ecosystems.
WorldRemit Communications Team – [email protected]
Tom Solleveld, PR Executive, WorldRemit – [email protected]
Wing Marketing Team- [email protected]