One of the country’s best-known fintech firms TrueMoney has delivered some much-needed relief to residents in Steung Meanchey 3 commune of Meanchey district by providing essential food supplies to those locked down in the district’s red zone.
A strong team of staff and key management from TrueMoney donated hundreds of food packages to those in need in Reussei 1 and Reussei 2 of Steung Meanchey 3 commune after the commune was designated a most affected zone as part of the Phnom Penh Municipality’s recent lockdown.
The food packages, which contained noodles, rice, canned fish, white radish, and soy sauce, were handed over to the village chief at the office of the Cambodian People Party of Steung Meanchey 3 commune.
While handing the donation over to local officials at Russei Village, TrueMoney Head of Sales & Distribution, Mr. Sovath Dari Yavich said: “This is a difficult time for all Cambodians, especially those who are locked down in the red zones. As a company that truly cares about all Cambodians, we are committed to helping our fellow citizens face these challenges so that we can get through this pandemic together.”
Steung Meanchey 3 commune was initially designated a red zone last month as part of Phnom Penh Municipality’s efforts to contain the spread of Covid-19. Earlier this month the Phnom Penh Municipality amended the zone categories by reducing the lockdown areas.
TrueMoney (Cambodia) Chief Strategy Officer Ms. KHUON Frandara said: “We applaud the efforts of the Royal Government of Cambodia, the Municipality of Phnom Penh, and local authorities to contain the pandemic and we want to ensure that we play our part too at this difficult time. This is why we have taken it upon ourselves to do what we can to help those in the worst affected areas.”
Since establishing the company’s operations in Cambodia in 2016, TrueMoney has created the largest fintech agent network in the country. According to TrueMoney, there is a network of more than 10,000 agents offering financial-related services to the unbanked and underbanked segments of society.
As the best-known fintech company in South East Asia, TrueMoney has more than 65,000 agents serving 40 million users in Cambodia, Thailand, Myanmar, Indonesia, the Philippines, and Vietnam. The company is also backed by Alibaba-owned Ant Financial which provides access to the latest fintech products and technologies.
TrueMoney, which currently offers online and offline payment services such as local remittance, bill payments, phone top-ups, loan repayments, and payroll services is operated by Ascend Money which is a subsidiary of the Charoen Pokphand Group (CP) and fintech partner Alibaba-owned Ant Financial.
TrueMoney is a leading international Fintech brand and part of Ascend Money, a digital financial services venture of The Charoen Pokphand Group (CP Group) and Ant Financial (Alibaba), two of the largest companies in Asia. The TrueMoney group is now one of the largest financial life platforms in Southeast Asia. TrueMoney has grown its presence from just 1 market to 6 markets in a short space of time. TrueMoney currently has significant operations in Thailand, Cambodia, Myanmar, Indonesia, Vietnam, and the Philippines. TrueMoney currently has the largest regional agent network in SEA with 65,000 agents, as well as the largest payment volume with USD8 billion in 2019. In addition, the TrueMoney wallet is the number 1 E-wallet in Thailand.