One of Cambodia’s largest fintech brands, TrueMoney, is teaming up with Electricite du Cambodge (EDC) and Phnom Penh Municipal Solid Waste Management to offer easy bill settlements in Phnom Penh city and Kandal province as part of TrueMoney’s expansion of services to customers.

TrueMoney, which is backed by one of Thailand’s biggest conglomerates the Charoen Pokphand Group (CP), is launching the EDC and Solid Waste payment services on July 20th through the TrueMoney wallet.  TrueMoney customers will also be able to make EDC and Solid Waste payments to agents at TrueMoney outlets as well as via the TrueMoney Wallet for added convenience and time-saving.

To promote the launch of the new initiative, TrueMoney is offering 3 months of no-fee bill payments for customers from July 20th until 31st October 2020. 

“TrueMoney is already an indispensable part of Cambodia’s everyday life,” TrueMoney Cambodia’s Chief Strategy Officer Ms. KHUON Frandara said. “And now with this new practical initiative helping people to pay their utility bills, TrueMoney will become even more integrated into Cambodian society.”

“With so many agents in close proximity to our customers and an easy to use wallet, TrueMoney’s aim is to make such services as easy and accessible as possible,” added Ms. Khuon.   

Since establishing the company’s operations in Cambodia in 2016, TrueMoney has created the largest fintech agent network in the country. According to TrueMoney, there is a network of more than 10,000 agents offering financial-related services to the unbanked and underbanked segments of society. 

“As with all new initiatives and products that we bring to the market, this new utility bill payment service will allow TrueMoney to offer its customers – and potential customers – some of the latest fintech products backed by the group’s impressive global ecosystem,” added Ms. Khuon.

As the best-known fintech company in South East Asia, TrueMoney has more than 65,000 agents serving 40 million users in Cambodia, Thailand, Myanmar, Indonesia, the Philippines and Vietnam. The company is also 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.