Thursday, March 23, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

Cambodia cashless payments, Clik, receive a boost

August 7, 2020
in Business, Cambodia, National, Tech
0
Cambodia cashless payments, Clik, receive a boost
0
SHARES
21
VIEWS
Share on FacebookShare on Twitter

A Cambodia-based company has boosted cashless payments with a final round of funding.

Financial technology (fintech) startup Clik disbursed $3.7 million, making it Southeast Asia’s largest seeding source in mobile payments, loyalty programmes, data awareness, business intelligence and cloud data services.

Funding was led by Openway and Poems Pte Ltd – the investment holding company of Phillip Capital, a Singaporean financial house with more than $35 billion under management – along with several global angel investors, a third of which are Cambodia-based.

This round of financing, which includes the $2 million of commitments announced at the end of 2018, enables Clik to upgrade its product engineering and customer service teams.

Clik’s progress is testament to the invaluable backing that the National Bank of Cambodia (NBC) has provided to the fintech sector.

Actively supporting the digitalisation of payments, the NBC is at the forefront of payment innovation, developing one of the first of the central bank’s digital payments system, Bakong, with which Clik will integrate in due course.

“After two years of scaling up and defining the fundamentals of our regional marketing strategy, we’re ready to accelerate our growth with the closure of our seed round. Our goal here is to offer merchants and consumers a much-needed and attractive digital alternative to cash,” said Matthew Tippetts, chief executive officer and co-founder of Clik.

“Amid the instability caused by the global pandemic, Clik has continued to go from strength-to-strength, focusing on much needed contactless payment solutions and data-driven tools to enable both merchants and consumers to benefit,” said Tippetts.

“The closing of our seed round is a sign that investors are eager to back future proof platforms for the ‘new normal’ that will inevitably exist post-COVID. It also shows that investors see attractive opportunities for investment in Cambodia, especially in startups with robust regional potential.” added Tippetts.

In working closely with MYPINPAD, which is the first, and currently only company in the world to achieve a payment card industry (PCI) Security Standards Council (SSC) certification for its software-only contactless payments on commercial off-the-shelf solutions, Clik will become a driving force in digital payments, enabling any business, from the smallest to the largest, to accept tap to pay digital payments using their mobile devices. Clik will be the first payment company in South East Asia to launch this disruptive solution.

Morten Hofstad, MYPINPAD head of Asia, said: “We look forward to supporting Clik in delivering its Electronic Know Your Customer rapid merchant onboarding solution which will reduce friction and boost financial inclusion for micro, small and medium enterprises.

He said that MYPINPAD’s aim is to enable greater financial inclusion with an enhanced consumer experience that “will help open and grow new markets for card acceptance”.

Founded in 2016, Clik is a payment aggregator enabling consumer payments from cards, e-wallets and bank accounts while enabling merchants to accept such payments. As Cambodia’s first independent mobile point of sale (POS) on a smart phone or tablet that acts as a register and SoftPOS merchant acquirer. Soft POS is mobile-centric based on near-field communication technology. It is an alternative for micro merchants to be used in specific business cases. The so-called “Tap-on-Phone” or “Tap-to-Phone” POS solution is supported by the major payment schemes. Clik provides all these payments in contactless (tap to pay) mode.

Clik aims to provide a safe, seamless, simple and rewarding payment experience that empowers the user. The company is developing a single, easy to use platform that focuses on building consumer loyalty to boost merchant profits.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.

Tags: CambodiaCambodia cashlessCambodia cashless paymentsClik
Previous Post

Regional airlines announce new Chinese travel measures

Next Post

Thai man under psychiatric treatment stabs sister to death

Related Posts

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

by Khmer Times
March 22, 2023
0
5

A total 8,726 national and international tourists this morning flocked to Angkor Wat Temple in Siem Reap provincial city to...

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

by Khmer Times
March 22, 2023
0
5

The International Aviation Flight Simulator Centre (IAFSC), which is the first full flight simulator in Cambodia, was officially put into...

Zuckerberg, Meta sued for failing to address sex trafficking, child exploitation

Zuckerberg, Meta sued for failing to address sex trafficking, child exploitation

by AsiaOne
March 22, 2023
0
6

A new lawsuit accuses Mark Zuckerberg and other Meta Platforms Inc executives and directors of failing to do enough to stop...

Most Popular

Google suspends Chinese app Pinduoduo from Play store after malware is found

Google suspends Chinese app Pinduoduo from Play store after malware is found

March 22, 2023
27
Rebels in Indonesia’s Papua release New Zealand hostage video

Rebels in Indonesia’s Papua release New Zealand hostage video

March 12, 2023
20
Biden speaks with California governor about Silicon Valley Bank: White House

Biden speaks with California governor about Silicon Valley Bank: White House

March 12, 2023
19
Malaysia Airlines Flight 370 disappearance: New Netflix series dives into mystery of vanished jet

Malaysia Airlines Flight 370 disappearance: New Netflix series dives into mystery of vanished jet

March 12, 2023
16
New Siem Reap Airport, Siem Reap-Angkor International Airport, construction 63 percent complete

New Siem Reap Airport, Siem Reap-Angkor International Airport, construction 63 percent complete

March 4, 2023
13
Chea Serey is the new Deputy Governor of National Bank of Cambodia

Chea Serey is the new Deputy Governor of National Bank of Cambodia

March 12, 2023
13

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!