Techo Startup Center (TSC), and ABA Bank have signed a Memorandum of Understanding (MoU) to cooperate on matters of mutual interest relating to the development of Fintech, Startup and Innovation ecosystem.
TSC is an entity under the Ministry of Economy and Finance (MEF) dedicated to nurturing young Cambodians toward entrepreneurships and innovative capabilities in emerging technologies and digital platforms.
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 prioritise PayWay from ABA Bank as the preferred online payment platform 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.
Nguonly Taing, executive director of Techo Startup Center said that the MoU will foster learning by executing 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 application program interface and software development kits, we are excited to see this collaboration and are confident that it can help fuel additional innovation by our startups members. Also, this partnership reflects our commitment towards developing digital payment foundations for the advancement of Cambodia’s digital startups,” he added.
Zokhir Rasulov, Chief Digital Officer at ABA Bank said that the bank is 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.” Rasulov said.