Wing Bank partners with MISTI for digital public payments

Cambodia-based Wing Bank has partnered with MISTI to enable Cambodian businesses to pay utility service fees through Wing Bank's digital solutions.

The Cambodian Ministry of Industry, Science, Technology and Innovation (MISTI) has signed a Memorandum of Understanding (MoU) with Wing Bank to utilise the bank's advanced digital payment solutions for paying for public service fees and promote science, technology and innovation (STI) efforts in the Kingdom.

The MoU aims to promote digital payments among SMEs and businesses across the country. Wing Bank's financial services, including the KHQR payment system, will facilitate seamless transactions and enhance the payment process for utility bills and other payments. This payment method is convenient, saves time and reduces travel costs for payers.

MISTI officials said digital payment solutions play a key role in driving financial inclusion and empowering companies and businesses. Through the partnership with Wing Bank, the company aims to leverage digital technology to make the payment system more accessible and efficient, enabling businesses of all sizes to thrive in an increasingly digital economy.

Wing Bank executives said they are honored that MISTI has trusted Wing Bank to drive this important initiative, and the partnership underscores their commitment to driving innovation and financial inclusion across Cambodia.

Promoting innovation and small and medium-sized enterprise growth in Cambodia

MISTI and Wing Bank will work closely together to provide capacity building on technological innovation to their SME members, thereby helping them grow their businesses.

Moreover, the collaboration is in line with the government's STI Roadmap 2023, which aims to strengthen Cambodia's technological capabilities and improve its innovation performance, which is crucial to becoming an upper-middle-income country by 2030 and a high-income country by 2050.

Wing Bank and MISTI share a common vision through their joint efforts towards Cambodia’s economic and technological development, aiming to unlock new possibilities and promote innovation-led growth in the country.

At the heart of Wing Bank's innovation-driven approach are the multi-functional Wing Bank app, over 11,000 Wing Cash Express agents, 80 Wing Master agents, and bank branches across Cambodia. With 16 years of serving Cambodians, Wing Bank's commitment to innovation is evident in its diversified services, benefiting approximately 165,000 merchants, 10 government agencies, 3,000 SMEs, and approximately 600 businesses. With cutting-edge banking services such as digital payments and payroll solutions, the bank has solidified its position as a trusted partner to businesses of all sizes.

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