Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


Wing partners with WorldRemit to offer instant money transfers to Cambodia

Cambodian diaspora can now send money instantly to more than one million Wing mobile banking accounts or for collection as cash at over 5,000 locations

Leading digital money transfer service, WorldRemit, and Cambodia’s largest mobile banking services provider, Wing Cambodia Limited Specialised Bank, have launched instant money transfers to Cambodia.

The new service enables the Cambodians living and working in over 50 countries – including the United States, France, Australia and Canada – to send money to Wing’s more than one million mobile banking accounts. Wing account holders are then able to send money domestically, pay bills, use these funds in over 8,000 merchants, or simply cash out through Wing’s extensive agent network.

Recipients can receive money in either US dollars or Cambodian Riel. Funds are deposited directly into Wing accounts or collected at over 5,000 Wing Cash Xpress locations across the country.

International money transfers are simple using WorldRemit’s convenient, digital-first model. Funds can be sent from the WorldRemit phone app or website, without spending time and money visiting a brick and mortar agent.

Mobile banking services are increasingly popular across South Asia, and in 2016 the industry trade body GSMA, reported that the region accounted for 40 percent of all new registered accounts. This is being driven by services, such as Wing’s, which enables Cambodians to send and receive money using a mobile phone.

Cambodia’s million strong diaspora plays a crucial role in the country’s economy. The World Bank reported that in 2015 Cambodia received over $400 million in remittances.

Ismail Ahmed, founder and CEO at WorldRemit, commented: “This partnership will allow the hard-working Cambodian diaspora to send money back home to family and friends in the most convenient way possible.”

“We are delighted to be partnering with a company that has pioneered mobile banking services in Cambodia, and ensured that millions of Cambodians across the country can access financial services at the touch of a button.”

“Wing is pleased to be partnering with WorldRemit to bring a new level of convenience to Cambodians living abroad” said Jojo Malolos, CEO of Wing. “This partnership brings international money transfer to the next level — sending money anywhere in Cambodia from Cambodians anywhere in the world online. We are bridging the gap and making it much easier for our customers abroad to send their money home to their loved ones, who can collect instantly through a Wing Account or cash out at any of our 5,000 Wing Cash Xpress agents nationwide.”

Continue Reading

Recent Posts