Following this announcement, the partnership is expected to deliver optimised digital payment services to Cambodia’s banks, financial institutions, and customers, with the overall aim of improving innovation and financial inclusion.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.
The collaboration represents an important step in Cambodia’s financial technology landscape development, prioritising the acceleration of innovation and digital payment adoption in the region. At the same time, it also underscores TechCreate’s ability to deliver improved solutions that address the evolving needs of distinguished financial institutions and banks.
With IST’s mobile wallet enabler position, multiple of Cambodia’s top banks and enterprises are poised to provide improved and secure digital payment options via Google Pay and Host Card Emulation (HCE) wallets for Android users. This process allows financial institutions to offer such optimised digital payment options on major international schemes as well. Furthermore, it also enables cardholders to execute payments securely with their smartphones for both proximity transactions and in-app payments, aligning with a broader trend towards contactless, frictionless, and safe experiences.
In addition, by providing digital solutions to multiple of Cambodia’s preeminent banks, TechCreate is set to further develop its market penetration within the country. These enterprises serve multiple clients and manage a substantial portion of the country’s total assets under management (AUM), playing a critical role in the region’s financial ecosystem.
At the same time, by partnering with IDEMIA Secure Transactions, TechCreate will also drive a comprehensive digital transformation process, which is set to optimise financial inclusion and set a new standard for payment convenience and security.
For the following months, the financial institutions plan to introduce a push provisioning service, which will enable Android users to enroll their cards into Google Pay quickly. The product is expected to streamline the process of adding cards to digital wallets, which will minimise friction while optimising user convenience and safety. In addition, the enterprises will also deliver dedicated bank wallets, which will improve customer journeys and encourage the daily use of digital payments.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now