ABA Bank, a leading commercial bank in digital finances, and Techo Startup Center (TSC), an entity under the Ministry of Economy and Finance (MEF) for nurturing young Cambodians toward entrepreneurships and innovative capabilities in emerging technologies and digital platforms, signed the Memorandum of Understanding (MoU) to cooperate on matters of mutual interest relating to the development of Fintech, Startup and Innovation ecosystem. The potential cooperation will cover various programs of TSC.
Under the MoU, ABA Bank will provide PayWay payment solutions to the projects and startup initiatives of TSC as well as enable access to PayWay Sandbox environment for testing and innovation purposes.
For its part, TSC will introduce and prioritize PayWay from ABA Bank as the preferred online payment method for its projects and initiatives and will actively work with ABA to boost the growth of online payments, startup ecosystems and the Fintech landscape of the country.
Zokhir Rasulov, Chief Digital Officer at ABA Bank commented, “We are glad to cooperate with Techo Startup Center in providing access to our cutting-edge online payment gateway to tech entrepreneurs and allow them to apply it with their ideas. We believe this collaboration will offer holistic support for TSC tenants to explore and move their ideas forward to build successful businesses in the digital era.”
Dr. Nguonly Taing, Executive Director of Techo Startup Center said, “This MoU will foster the learning by doing on all sides of digital startups and innovators to obtain first-hand digital payment empirical evidence on the benefits of their product/services development.
“With PayWay’s rich set of APIs and SDKs, we are excited to see this collaboration can help fuel additional innovation of our startups members. Also, this partnership reflects our commitment towards developing digital payment foundation for the advancement of Cambodia’s digital startups,” he added.
For additional information on services provided by ABA and TSC, please contact ABA at 023 225 333 or TSC at 081 922 329.