Day: May 15, 2022

Visa, the world’s leader in digital payments, this week released findings from its latest Visa Consumer Payment Attitudes study, showing that as many as 32 percent of Cambodians plan to stop using cash following the COVID-19 pandemic.
This follows a spectacular shift from cash to digital and contactless payments, especially QR codes and e-wallets, underlined Visa in its news release.
The pandemic has accelerated the adoption of digital payments among Cambodian consumers as they believe going cashless will make society more hygienic (43 percent), efficient (39 percent) and environmentally friendly (37 percent), it added.
“We are well on our way towards a generational change in how Cambodians choose to pay and be paid, with a growing preference for digital payments. At Visa, we are keeping a close eye on how this conversion to cashless plays out, using our market insights to support our local partners by rolling out smarter, faster and safer forms of digital payments,” Ms. Monika Chum, Visa Country Manager for Cambodia said.
According to the news release, since COVID-19, cash usage dropped 22 percent in the past year. One in five Cambodian consumers has tried going cashless, with almost half of them (46 percent) claiming they could go for longer than a week. Of those who have not tried going cashless, 29 percent are confident they could last for a month or longer by relying on cashless alternatives.
The study also showed an accelerated adoption of cashless and digital payments, especially cards and QR codes. Thirty-eight percent of Cambodians now use card payments and almost 7 out of 10 consumers (68 percent) who have both e-wallets and cards show a preference for the latter. Meanwhile, QR payment usage tripled over year with 36 percent of consumers in Cambodia now using it. QR payment is the second-most-popular payment form in all spending categories, especially in supermarket and convenience store purchases.
Consumers are also showing a clear preference for mobile applications where they can access greater choice and integrated payment features. Digital banking has also caught up with traditional banking as 60 percent of consumers now install mobile banking apps, appreciating the security of mobile payments (51 percent) and the health benefits associated with reduced physical contact (50 percent).
“Consumers believe Cambodia will become a cashless society within the next 10 years, regardless of the impacts of COVID-19,” added Ms. Monika Chum. “Visa is excited to support businesses and consumers in embracing this transformation with world-leading payment services and market insights to help them adapt and overcome.”

Source: Agency Kampuchea Press

Cambodia Prime Minister spoke highly of the inseparable contribution of families and communities to peace and growth of the country.
Samdech Akka Moha Sena Padei Techo Hun Sen made the highlights in his open letter addressing parents as heads of households, family members, teachers and students in the observance of the International Day of Families which falls on May 15.
The day themed ‘Families as Foundation for Maintaining and Protecting Peace’, reflects the role of families as an indispensable cell of peace, social stability, and the socio-economic and cultural development, he wrote.
Guided by the role, the Royal Government has implemented the National Social Protection Policy Framework 2016-2025 to promote household livelihood as well as to create jobs, develop professions, ensure health care and finance the vulnerable group in time of shocks, like the COVID-19 pandemic.
Samdech Techo Prime Minister thanked especially all the household heads for their hard work and sacrifice to raise good families for the society.
He also acknowledged the contribution of the Ministry of Social Affairs, Veterans and Youth Rehabilitation, other concerned ministries and government bodies, national and international development partners, and donors to improved family living condition.
He called on all families, communities, competent ministries and government entities and authorities, development partners, religious leaders, and the media to continue cooperating and supporting each other to maintain good social morality and virtue.
This is the 28th observance of the International Day of Families for Cambodia.

Source: Agency Kampuchea Press

Thousands of Buddhist followers from all walks of life gathered this morning at Phnom Preah Reachtroap (Oudong) in Ponhea Leu district, Kandal province, where a stupa of Buddha’s relics is located, to mark the Visak Bochea Day, after two years of interruption due to COVID-19.
This annual celebration was presided over by Senate President Samdech Vibol Sena Pheakdei Say Chhum and his spouse, and Samdech Kittiprittpundit Bun Rany Hun Sen, President of the Cambodian Red Cross (CRC), with the participation of His Holiness Samdech Preah Abhisiri Sugandha Mahasangharajah Dhipati Bour Kry, Great Supreme Patriarch of Dhammayuttikaya of Cambodia.
Meanwhile, Buddhist monks invited to the event were offered foods, drink, and cash in order to pray for the soul of the deaths to rest in peace.
Visak Bochea Day, which is a birth, enlightenment, and nirvana day of Master Buddha, for the Buddhist countries, including Cambodia, was internationally recognised by the United Nations in 2000. It is a public holiday and an occasion where the Buddhist followers are reminded of Buddha and his teachings.

Source: Agency Kampuchea Press