National Bank of Cambodia Launches New Digital Payments Campaign

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The National Bank of Cambodia (NBC) has launched a new campaign to encourage digital banking and payments on May 24, 2021, called “Go online and go cashless to beat COVID-19!”.

This new campaign by NBC is aiming to reduce person-to-person payment transactions and limit the risk of COVID-19 transmissions. The banking institution is encouraging the use of Bakong and other e-wallets and payment apps in the Kingdom. The NBC claims that’s many as 59 per cent of Cambodians currently use online transactions.

NBC assistant governor and director-general Chea Serey said: “While we realise that many Cambodians prefer to conduct their transactions in person and often in cash, we would like retailers and customers to become more used to a cashless life and for the payment platforms to do their best to educate and attract people to their apps.

Digital payment platforms are one of the country’s most effective tools for ensuring that all segments of society have access to banks and banking.”

Digital and cashless payment options in Cambodia 2020

This also follows guidance from the WHO (World Health Organisation) who urge caution when handling cash banknotes and recommends regular washing of hands after handling money.

“Now, the safety of our population in the face of COVID-19 gives the NBC and other financial institutions another incentive to promote a cashless society”, Serey added.

You can read more about the digital payment option in Cambodia here.

 

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