WING (Cambodia) Limited Specialised Bank on March 13 opened the doors of its corporate headquarters to showcase their cutting-edge technology to special guests.
Wing has grown to become one of the most recognisable Cambodian brands, with more than 7,500 Wing Cash Express agents across the Kingdom – some 80 per cent of whom are stay-at-home mothers.
“I’m very impressed by how Wing has deployed advanced technology and [its expertise] to grow Cambodia’s economy through its financial ecosystem,” said H.E. Tram Iv Tek, Minister of Post and Telecommunications, who was among the 18 dignitaries at the office.
“Digital payment solutions is a global trend, one which is crucial in promoting sustainable and inclusive growth.”
Wing has collaborated with over 40,000 merchants, ranging from humble vendors operating from stalls in rural Cambodia to stylish air-conditioned shopping centres in the capital.
It has also collaborated with industry leaders including Mastercard, Western Union, MoneyGram, Wechat and Alipay to broaden its range of services.
The vast majority of Wing’s five million customers are considered to be underbanked. Last year, it conducted transactions worth nearly 90 per cent of the Kingdom’s GDP in executing more than 130 million transactions.
“As one of the leading mobile banking service providers in Cambodia, we are delighted that our daily business operations contribute to the current and future development of Cambodia’s social economy,” said Wing chairman Kith Meng.
“Wing has been living [up to] our vision of providing every Cambodian with convenient, secure and instant access to mobile financial services for the improvement of their daily lives,” Kith added.
Wing, always the trailblazers, recently moved to supplement their core services of money transfers, bill payments, mobile phone top-ups, online and offline cash payments with outbound money transfer services to the Philippines, Vietnam, Thailand, Malaysia and South Korea.
Wing CEO Manu Rajan said that Cambodian migrant workers who send remittances home to their families through its services would benefit by being able to “send money cost effectively back home into the bank accounts of their family members”.
“Small- and medium-sized enterprises (SMEs) are significant contributors to Cambodia’s economic strength and stability. Wing partnered with various accounting solution providers to tailor solutions specifically to meet the needs of small businesses in Cambodia,” said Manu.
“Through those partnerships, we are able to integrate their accounting systems with services providing tools for micro-SMEs and SME customers to conveniently manage their businesses,” he added.
The Wing CEO also revealed that it had partnered with Tinh Tinh to expand its platform and reach more shoppers. According to Manu, Wing agents had a presence in 28 Ministry of Post and Telecommunications offices across the Kingdom to ease payment services.
“We believe that we will be able to make fundamental differences in the living standards within the Kingdom of Cambodia, as well as to work towards achieving our goal of creating a cashless society contributing to advance Cambodia’s digital economy,” Manu said.