Wing Bank To Serve As Payment Partner For Ministry Of Industry, Science, Technology & Innovation
The Ministry of Industry, Science, Technology & Innovation (MISTI) has signed a Memorandum of Understanding (MoU) with Wing Bank (Cambodia) Plc to leverage the bank's advanced digital payment solutions for public service fee payments, and to promote Science, Technology & Innovation (STI) initiatives in the Kingdom.
According to a press release issued by Wink Bank, all enterprises and businesses in Cambodia will soon have the ability to conveniently pay public service fees and make other payments to MISTI through Wing Bank's digital payment solution.
The MoU signing ceremony was witnessed by H.E. Hem Vanndy, Minister of MISTI, and Neak Oknha Kith Meng, Chairman of the Board of Directors of Wing Bank and CEO of the Royal Group of Companies.
H.E. Pech Sorya, Director General of the General Department of General Affairs at MISTI, said digital payment solutions play a crucial role in driving financial inclusion and empowering enterprises and businesses.
“Through our partnership with Wing Bank, we aim to leverage digital technologies to enhance accessibility and efficiency in payment systems, enabling businesses of all sizes to thrive in an increasingly digital economy,” he added.
The MoU aims to promote digital payments among small and medium enterprises (SMEs) and businesses nationwide. Wing Bank's financial services, including its KHQR payment system, will facilitate seamless transactions, thereby enhancing the process of paying public service fees and others. This payment method is convenient, saves time, and reduces the cost of travel for the payers.
Hor Bunthe, Deputy CEO of Wing Bank, expressed gratitude for being entrusted with this initiative, stating, “We are deeply honoured by MISTI’s trust in Wing Bank to facilitate this significant initiative. This partnership underscores our commitment to driving innovation and financial inclusion across Cambodia.”
Both MISTI and Wing Bank will work closely to provide capacity building on tech innovation to the SMEs, thereby helping them to grow their businesses better.
Furthermore, this collaboration aligns with the government’s STI Roadmap 2023, which aims to strengthen Cambodia’s technological capabilities and improve innovation performance, crucial for achieving upper-middle-income status by 2030 and high-income status by 2050.
Wing Bank and MISTI share a common vision through their collaborative efforts to advance Cambodia's economic and technological landscape, striving to unlock new possibilities and drive innovation-led growth in the country.
At the heart of Wing Bank's innovation-driven approach are a multi-function Wing Bank App, over 11,000 Wing Cash Express Agents, 80 Wing Master Agents, and state-of-the-art bank offices located across Cambodia.
Wing Bank offers a diverse range of services that benefit approximately 165,000 merchants, 10 government institutions, 3,000 SMEs, and around 600 businesses.
This press release was supplied.