TrueMoney is teaming up with foodpanda to ‘drive’ the growth of financial and digital literacy among delivery drivers.
The Memorandum of Understanding (MOU), which is held at TrueMoney’s Headquarters on 25 October 2021, between one of Cambodia’s largest fintech brands, TrueMoney, and one of the country’s best-known food delivery companies foodpanda is designed to help delivery drivers better understand the use of online transactions – which is now a key payment method for the hospitality industry.
And, in order to help foodpanda delivery drivers experience online payments for themselves, TrueMoney is providing foodpanda representatives with a TrueMoney wallet – complete with credit.
“This initiative is more educational than operational, to begin with,” TrueMoney (Cambodia) Chief Strategy Officer Ms. KHUON Frandara said. “We are hoping that by providing foodpanda riders with their own TrueMoney wallets they will better understand how online payments are made which will help them in their jobs.”
According to both TrueMoney and foodpanda, this initial first step of helping rider partners to become more familiar with online payments will lead to a better understanding of the rapid digitization of Cambodia’s fintech sector – with companies such as TrueMoney leading the way.
“We have entered into this MOU with TrueMoney because we want our delivery drivers to be better equipped at their jobs – and also better equipped for the advances of Cambodia’s fast-moving economy and society,” said Mr. VIGNES Patrice, Country Managing Director from foodpanda. “Our drivers have done a wonderful job helping to keep Cambodia’s hospitality industry alive. Now we want to make sure that they obtain some benefit too.”
The tie-up is expected to open an opportunity for more people to make payments online using the TrueMoney Wallet thereby helping small and medium-sized enterprises (SMEs) to continue to operate despite Covid-19-related restrictions. The initiative is also expected to encourage Cambodians who might be wary of going out to dine to still enjoy restaurant fare by offering additional options for making payments.
“By offering more payment options, both TrueMoney and foodpanda, are hoping that we will both be able to encourage more and more people to support SMEs in the hospitality industry by ordering online,” TrueMoney (Cambodia) Chief Strategy Officer Ms. KHUON Frandara said. “We are also hoping that those who might have shied away might now start using digital payments as a primary payment method.”
“As an added bonus, this initiative will also encourage more women and female entrepreneurs to embrace digital payments and transactions,” added Ms. KHUON Frandara. “After all there are many women in the hospitality industry and there are many successful working women who are responsible for providing family meals too. We are hoping that by making ordering online easier and more accessible through our TrueMoney wallet and foodpanda tie-up will provide a useful service for them too.”
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.