One of Cambodia’s largest fintech brands, TrueMoney, is offering zero-fee bills to its customers on loan repayment, utility bills, and other daily financial needs to ease the burdens to customers brought about by Covid-19.
The offer, which is available to those using the TrueMoney wallet, will run from today until 31 May 2021. The zero-fee payment offer can be used by TrueMoney e-wallet users to pay more than 200 bills including to all of the country’s top banks, microfinance institutions (MFIs), utility providers (in Phnom Penh & Kandal province) as well as top-up payments for all mobile phone service providers.
“At TrueMoney we recognize that these are challenging times – not just financially but also logistically too,” said TrueMoney Cambodia’s Chief Strategy Officer Ms. KHUON Frandara. “As one of Cambodia’s leading fintech firms, we also want to do our part to help the public to stay safe by offering fee-free bill payments.”
TrueMoney, which is backed by one of Thailand’s biggest conglomerates the Charoen Pokphand Group (CP), is offering the no-fee bill and loan payments to TrueMoney Wallet users exclusively as a way to encourage Cambodians to take their banking and financial needs online.
“While we know many people are used to paying in person and handling cash, we are also trying to encourage people to go digital for their own convenience and safety,” added Ms. Khuon.
Since establishing the company’s operations in Cambodia in 2016, TrueMoney has invested significantly in digital technology to provide payment and remittance services to the unbanked and underbanked segments of society.
As the best-known fintech company in South East Asia, TrueMoney is 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.
The new utility bill payment service is just one of a number of new initiatives that TrueMoney expects to roll out for the company’s customers over the coming weeks and months.
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.