Wing Bank joins the Ministry of Industry, Science, Technology and Innovation

Gloria Mathias

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

All businesses and business operators can conveniently pay utility charges and other payments to MISTI through Wing Banks’ digital payment solutions, ensuring instant and efficient services.

“Digital payment solutions play a key role in promoting financial inclusion and strengthening businesses and enterprises,” said His Excellency Pek Sorya, Director General of MISTI.

“Through our partnership with WingBank, we aim 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,” Minister Pek Sorya added.

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

“We are honored that MISTI has trusted Wing Bank to drive this important initiative. This partnership underscores our commitment to driving innovation and financial inclusion across Cambodia,” said Hor Bunte, Deputy CEO of Wing Bank.

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 are essential to becoming an upper-middle-income country by 2030 and a high-income country by 2050.

Wing Bank's commitment to innovation is evident in the diversified services it offers that benefit approximately 165,000 merchants, 10 government agencies, 3,000 SMEs, and around 600 businesses. Through its 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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