Phnom Penh December 14, 2021 – Cambodia Post Bank, PLC (CPBank) signed an agreement to become a partner with TrueMoney to allow CPBank customers to deposit their money into Cambodia Post Bank, PLC or make their transactions via TrueMoney’s agents nationwide using the Bakong system.
With this new service, CPBank customers can visit one of more than 10,000 agents nationwide to make their transactions when they present their bank account details to a TrueMoney agent.
All customers can also transfer their money to their CPBank using the TrueMoney’s Wallet.
The signing ceremony for the Memorandum of Understanding (MOU) was held at the headquarters of Cambodia Post Bank, PLC, and was attended by Mr. TOCH Chaochek, Chief Executive Officer of Cambodia Post Bank, PLC, and TrueMoney’s Chief Strategy Officer Ms. KHUON Frandara. Management teams representing both companies were also in attendance.
Mr. TOCH Chaochek said during the ceremony that “this collaboration aims at the same goal to provide more convenient service to our customers and also a strategic partnership of both institutions to strengthen our services to achieve faster financial transactions, reduce costs, save time and high security.”
Ms. KHUON Frandara, TrueMoney’s Chief Strategy Officer, said “TrueMoney is proud to be in partnership with such a well-respected and reputable financial institution. We, at TrueMoney, look forward to providing an invaluable service to both TrueMoney and CPBank clients.”
Cambodia Post Bank PLC services include loans, deposits, ATMs, mobile banking, credit, and visa debit cards as well as national and international money transfers. In addition, all transactions from CPBank are free of charge.
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.