Thunes, a Singapore based cross border payment system provider has teamed up with local micro credit lender AMK to provide seamless cross-border payments in Cambodia.
The partnership will see the launching of international remittance services in Cambodia. Via this partnership, AMK is expected to expand accessibility and availability of financial services for Cambodian customers, including users living in remote areas.
AMP and Thunes are looking at the more than 12 percent of Cambodia’s population who live abroad ad regularly remit money back home. They are located mainly in Thailand, Malaysia and South Korea as migrant workers.
AMK branches in rural areas will promote financial inclusion and enable access to funds for Cambodians receiving remittances from abroad.
This new partnership enables AMK to become a remittance provider, making the service available to their 900,000 customers. Thunes’ network, including more than 80 markets and 300 partners will allow international transfer to get sent directly to AMK.
With a network of more than 5,500 Agents running in 25 provinces and cities across Cambodia and covering 90 percent of total villages with 149 offices, AMK plans to now disburse remittances directly into the bank accounts of their customers or at any of their cash pick up centers.
Thunes cross border payment system is present in more than 80 and conduct transactions in more than 60 currencies. Extracted from telecompaper.com