ACLEDA Bank and Wing to launch Fund Transfer and Payment Services in Cambodia

January 17, 2020

Phnom Penh, January 15th, 2020 – ACLEDA Bank Plc., “the Bank You Can Trust, the Bank for the People” and Wing (Cambodia) Limited Specialised Bank, Cambodia’s leading Specialised Bank in Payments, announced the launch Fund Transfer and Payment Services between ACLEDA Bank Plc. and Wing (Cambodia) Limited Specialised Bank.

The launching ceremony was carried out by Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., Mr. Manu Rajan, Chief Executive Officer of Wing as well as management team of both banks.

The purpose of the cooperation is to ease customers in doing transactions as follows:

  • Fund Transfer between ACLEDA’s Core Bank Account and Wing account.
  • Fund transfer between ACLEDA’s ACLEDA Unity ToanChet account and Wing account.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank, said that “ACLEDA Bank Plc. is delighted to be a strategic partner with Wing (Cambodia) Limited Specialised Bank. The cooperation enables the two Banks have a wide range operation networks of 43,476 places coverage across nationwide which facilitate the customers’ transfer and payment services broadly, fast, conveniently and securely. Its benefit is numerous and it also supports customers’ growth while it mitigates risks and expenses. Now, credit customers and customers who have account(s) with ACLEDA Bank Plc. are enable to make loan repayments and cash withdraw/deposit at the two banks’ operation network nationwide.”

He added that “ACLEDA Bank Plc. currently has the largest ATM network (627 ATMs) throughout Cambodia both in ACLEDA Bank Plc.’s branches & offices and outdoor ATMs in supermarkets, universities, hotels, companies etc. There are more than 4,289 ACLEDA POS machines. Furthermore, ACLEDA Bank Plc. is a digital bank which has ACLEDA Unity ToanChet enable all customers to operate any banking transactions via their own Smart Phone. As of today, ACLEDA Unity ToanChet is the largest mobile banking service in Cambodia which has users of 1,226,383 registered as individual and 30,989 registered as corporate partner”.

Mr. Manu Rajan, Chief Executive Officer of Wing, said that, “Both Wing and Aceleda share the vision to provide superior financial services to all segments of the community – thereby help improve the quality of lives Cambodian people. Wing, being a Specialised Bank, believes in the vision to use Mobile Financial Services to bring products and solutions that are relevant to and are for the improvement of the daily lives of every Cambodian.”

Since the inception in 2009, Wing has been committed to drive digital, gender and financial inclusion in the Kingdom of Cambodia. Over the past 10 years, Wing has ensured that millions of Cambodians enjoyed convenience and security when it comes to Mobile Financial Services by creating a world class network of Wing Cash Express Agents as its backbone – with almost 80% of Wing’s Cash Express Agents being women – thereby driving the much needed gender and financial inclusion among Micro SMEs in Cambodia.” said Mr. Manu Rajan, Chief Executive Officer of Wing.

“We believe that our partnership today will let us serve the diverse money transfer needs of the hundreds of thousands of customers of Acleda in Cambodia, conveniently, safely and securely,” said said Mr. Manu Rajan. “With this partnership, ACLEDA’s customers will now be able to make their money through any of the 7300+ Wing Cash Express Agents saving them time and money in travelling to a bank Branch. Also, they can instantly transfer money from Wing Account to ACLEDA Account at their convenience by using the Wing Mobile App or using the USSD Code *989# on their mobile phones – anytime, any day, 24X7!”

This partnership not only benefits Cambodians living in Cambodia. Cambodians living in more than 200 countries across the world can now use Wing’s International Remittance partners to send money cost effectively back to Cambodia into the Wing accounts of their family members.

Customers of Wing and ACLEDA will soon be able to enjoy the benefits of this partnership.

About ACLEDA Bank

ACLEDA Bank Plc. has four subsidiaries: ACLEDA Securities Plc., ACLEDA Institute of Business, ACLEDA Bank Lao Ltd. and ACLEDA MFI Myanmar Co., Ltd. as well as the representative office in the Republic of the Union of Myanmar. The Bank’s total assets as of the end of December 2019 was USD6.19 billion with total loan outstanding USD3.88 billion, total deposits USD4.33 billion, and total clients of over 2 million.

For more information, visit: www.acledabank.com.kh

About Wing (Cambodia) Limited Specialised Bank

Wing (Cambodia) Limited Specialised Bank is Cambodia’s leading mobile banking services provider and one of the few specialised banks in the world. Established in 2009, Wing has transformed the way Cambodians send and receive money, using a mobile phone for anytime, anywhere convenience.

Wing remains at the forefront of the mobile money and electronic payment services market in Cambodia with 100% district coverage via our nationwide network of 7,300 Wing Cash Xpress outlets. It has partnerships with more than 40,000 merchants and global industry leaders including Mastercard, Visa, MoneyGram, AliPay, WeChat Pay and Western Union.

Wing also provides funds and payment solutions to the corporate sector via our enterprise services. With Wing, small and medium enterprises (SMEs) and companies can use Wing’s payroll and disbursement services for their employees, helping growth and spread of the payment ecosystems.

For more information, please visit: www.wingmoney.com