Toch chaochek - Latest News Update, Information, Photos & Videos on Toch chaochek at Lokmat Times

Phnom Penh, May 25 In a new report, the National Bank of Cambodia (NBC) said that the country has witnessed a significant increase in mobile payments as more people have transitioned from cash-based to digital options."The trend of using payment services has been remarkedly increasing as customers behaviours shifted from cash-based towards digital payments," the NBC's banking supervision report 2022 said."The number of registered e-wallet accounts increased to $19.5 million and the total number of transactions jumped from 708 million to 1 billion with a total amount of $272.8 billion, increased by 34 per cent, approximately nine times the gross domestic product (GDP)," the report said.The report said 35 payment service institutions (PSIs) have been licensed and two banking and financial institutions (BFIs) have been authorized to operate payment businesses by the end of 2022."Generally, the products and services offered by these institutions are in the form of digital payments that can be operated through mobile applications or at various payment agents and other networks," it said."The use of financial technology integrated into payment services is a factor for enhancing financial inclusion, promoting competition, fostering innovation, and improving public confidence in using payment services," it added.Cambodia Post Bank's chief executive officer Toch Chaochek said on Thursday that mobile payment services have gained strong momentum over the past few years due to the Covid-19 pandemic."Since the pandemic, we have seen that more and more people have switched to using digital payments in their daily lives, while many financial institutions have been improving their digital payment systems," he told Xinhua.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Toch ChaochekFOLLOW

Toch chaochek, Latest News

International :Cambodia records sharp rise in digital payment

Phnom Penh, May 25 In a new report, the National Bank of Cambodia (NBC) said that the country ... ...