Visa Inc, the world’s leader in digital payments, experienced strong growth in Cambodia in 2017 with the number of Visa cards in the country increasing by 65 percent compared to the previous year.
Visa saw both total payment volume and total number of transactions on its network grow by 30 percent respectively, while the company increased the number of locations where its card are accepted by 20 percent.
Monika Chum, Visa country manager for Cambodia, said as the Cambodian economy continues to evolve and integrate with the global economy, the company expects to see continued growth in electronic payments.
“Looking forward, we are going to be focusing heavily on trying to expand where and how Cambodians can use electronic payments, whether it is for big ticket items such as new furniture or vehicles, or for everyday expenditures such as fuel or groceries,” Ms Chum said.
“Our goal really is to make paying simpler, safer and more convenient for customers here, so that they can better enjoy the benefits of this growing economy,” she added.
Visitors and residents can use their Visa cards at more than 7,000 merchant locations and 1,000 ATMs across the country.