DaraPay Commitment to offer more financial choices to the Cambodians

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Phnom Penh, Cambodia – December 11, 2018 – DaraPay, one of the newest mobile payment solution providers in Cambodia, held a private gathering to celebrate its 1st Anniversary. The event was held at Green Palace Hotel Phnom Penh, and was attended by some of DaraPay’s most valuable business partners, all staff members and top management.

In just 12 months of operations, DaraPay has made some remarkable achievements and is quickly transforming itself as one of the leaders in the market. As at December 2018, DaraPay has over 2,600 agents across the country, helping customers make money transfers to their loved ones and business partners. Apart from this, all the agents also offer cash in and cash out, phone top up, utility bill payments, and other financial services transactions. In fact, agents can now refer DaraPay customers to bank and microfinance partners for loans.

As digital adoption increases in Cambodia, consumers have a growing demand for fast and reliable services, from transportation to food delivery, from online shopping to electronic payments. DaraPay’s mission is to provide Cambodians with a fast, secure and convenient payment ecosystem that creates value and gives them peace of mind. Simply put, DaraPay aims to be every Cambodian’s “currency of choice” for day-to-day payments and transactions.

In line with the National Bank of Cambodia’s (NBC) thrust to make Cambodia a cashless society, in August 2018, DaraPay launched its Merchant Payment service. To date, DaraPay has over 1,600 merchants on its platform, representing a wide range of industries such as ride-hailing, F&B, apparel, electronics, travel, sports and lifestyle, to name a few. In the near future, customers will be able to shop online, book flights and hotels, purchase cinema tickets and order food delivery using the DaraPay App on their smartphone.

“Fullerton’s vision is to Enable Success and Enrich Lives. We firmly believe that through DaraPay, we are providing Cambodians, regardless of geography, education and income, with equal opportunity to gain access to financial services that will help improve their lives,” said Mr. Loh Niap Juan, Fullerton’s Executive Vice President and also Chairman of Canadia-Fullerton Mobile Money Plc. “Fullerton has always regarded Cambodia as an exciting space and will continue to leverage our experiences and network to improve our businesses in Cambodia.”

Mr. Phok Ratha, General Manager of DaraPay, remarked: “Mobile technology has transformed the way we live, work, travel, shop and stay connected. As a FinTech company, DaraPay constantly strives to provide innovative financial services that meet the changing need of our customers. In 2019, we will be offering more solutions to address the growing demand for convenience and access to financial services. In addition, we will continue to work closely with our partners to ensure that DaraPay stays at the cusp of innovation and offers superior customer experience,” he added.

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About DaraPay:

DaraPay is a trademark of CANADIA-FULLERTON MOBILE MONEY PLC., a corporation duly established in 2016. DaraPay is a joint venture between Canadia Investment Holding (CIH) of Cambodia and Fullerton Financial Holdings (FHH) of Singapore, for the purpose of operating a mobile wallet and payments business in Cambodia. DaraPay’s services include: Local Money Remittance, Cash-In / Cash Out, Utilities Bill Payments, Phone Top Up, Bill Payment, E-commerce Payment, Merchant Payment, Loan Repayment, Loan Referral, Payroll service, Mobile Wallet and other financial related products. As of December 11, 2018, DaraPay has more than 2,600 agents nationwide, and the number is expected to grow more than 5,200 by exit 2019.

Currently, DaraPay has more than 1,600 merchants available to accept the payment, and the number is expected to increase by 4,500 by the end of 2019. Through DaraPay, thousands of people and families in both provinces and urban cities are sending money anywhere, any time with secured and convenient at peace of mind.

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