Electronic (Pre-Paid) Money Service to Launch in Khmer Riel -Promoting Cashless Services with QR Code Payment App-
AEON Specialized Bank (Cambodia) Plc. called “AEON” is introducing a smartphone Application, called “AEON Wallet Cambodia”, equipped with QR Code payment and remittance functions toward the 26th April 2018. AEON is starting electronic (pre-paid) money services in the local Cambodian market in the domestic currency.
AEON is established a local subsidiary in Cambodia in October 2011 and has been developing its business in installment payment for consumer durables, such as TV sets and mobile phones, as well as providing unsecured small loans. In October 2015, obtained a specialized banking license from the National Bank of Cambodia as the first Japanese-affiliated company and entered the credit business. AEON is striving to enhance financial services to enrich the daily lives of local clients.
By launching these electronic (pre-paid) money services, AEON aims to further improve services and provide high-level convenience by allowing people to make payments and remittance without the use of cash or card. AEON is also looking to solve the inconvenience of carrying notes and coins of the Cambodian riel, the many-digit currency.
With “AEON Wallet Cambodia,” customers are able to top-up their accounts in advance with the US dollar or the Khmer Riel, and use electronic money to buy goods at Cambodia’s AEON shopping malls, or to may pay for public transportation in the future. The Application enables users to check their charged account balance or view their transaction history. Electronic cash remittance among users who have downloaded the Application is also possible. AEON continues to expand the places where “AEON Wallet Cambodia,” can be used, contributing to more benefits of customers.
With a wide use of the US dollar, the National Bank of Cambodia is promoting the use of the Khmer Riel. From the perspectives of its monetary policy, the central bank has implemented measures such as mandatory obligations for displaying price tags in Khmer Riel, and giving official notifications to financial institutions, requesting for 10% of their loan balance to be denominated in Khmer Riel by the end of 2019. AEON wishes for further development of the local community and will contribute to greater use of the Khmer Riel through promotion of our electronic (pre-paid) money service.
”AEON Wallet Cambodia” App uses
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