The National Bank of Cambodia will launch a new payment system to increase inter bank activity in a move to shore up confidence in the Kingdom’s rapidly expanding banking sector, it said in a press release yesterday.

The Fast and Secure Transfer (FAST) System will conduct real-time fund transfer transactions in riel across banks and microfinance deposit-taking institutions.

The system aims to ease payment activities, while making payments more efficient and transparent, the release said. A soft launch of the FAST System will debut on April 22.