ABA Bank and TrueMoney launched the partnership that allows customers of both entities to link their accounts in order to add convenience to their mobile banking and cashless payment apps.
Under the agreement, customers are now able to transfer money seamlessly between ABA accounts and TrueMoney mobile wallets — using ABA and TrueMoney mobile apps.
The money transfers are carried out easily and can be found under Transfers section of ABA Mobile and under Transfer section of TrueMoney app.
The official launch took place in Sofitel Phnom Penh Phokeethra hotel on August 19, 2019 and gathered members of ABA and TrueMoney teams, TrueMoney agents, and media.
The collaboration between ABA and TrueMoney builds up on the existing “Loan Repayment via TrueMoney Agent” service, where loan borrowers of ABA can deposit cash into their accounts through the largest network of over 10,000 TrueMoney agents across the country.
“We are delighted to launch officially our partnership with TrueMoney. The loan repayment service that we introduced earlier, helps thousands of our loan customers to replenish their bank accounts easily, saving time and efforts,” said Askhat Azhikhanov, CEO of ABA Bank.
“TI believe that our money transfer service will bring greater experience to customers.
Now, our clients can transfer funds between TrueMoney app and ABA Mobile app and use it to purchase goods and services or support their relatives. The transfer process is easy and only takes a few clicks,” he added.
Commenting on the launch, Ms. Thi-Thom Pham, Head of Marketing at Ascend Group (parent company for TrueMoney Cambodia) said, ‘“TrueMoney is an award-winning regional financial platform for the underserved and digital consumers.
We serve over 40 million customers in 6 countries across South East Asia which clearly establishes us a Market Leader.
In Cambodia, we have quickly become a Key Player with an extensive agents’ network serving more than 2 million customers with almost 3 million transactions on a monthly basis.”
“Td also like to inform all ABA Mobile and TrueMoney app customers that we are preparing many interesting promotions for them to enjoy, so please stay tuned!” she added.
The transfers between ABA and TrueMoney become a valuable addition to the list of services already available to customers in ABA Mobile.
With the help of the app, users can transfer funds to anyone, pay all their bills, use it as a wallet to pay at favorite shops or even online, open deposits and savings accounts, issue virtual cards, and do much more.
All these services are provided to ABA Mobile users for free, giving the opportunity to do banking when and where it is convenient for them.
The launch of money transfer and loan repayment services between ABA and TrueMoney displays the support of both institutions to the promotion of the national currency and the government’s vision for financial inclusion by helping to bring Cambodia’s population into the formal financial service sector and transforming into cashless society.