Thursday, December 7, 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

Safety drives increase in use of contactless payments during Covid in Cambodia

June 3, 2021
in Business, Cambodia, National
0
Safety drives increase in use of contactless payments during Covid in Cambodia
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

Visa, the global leader in digital payments, has released findings from its latest Visa Consumer Payment Attitudes study, with 44 percent of Cambodians saying they are carrying less cash now than before the start of the pandemic.

According to Visa’s data, contactless payments are growing in popularity in Cambodia with two in every three (71 percent) Visa transactions being contactless. The year-on-year growth of the value of eCommerce transactions grew around four times from the last quarter of 2020 to the first quarter of 2021.

Visa’s Consumer Payment Attitudes study provides renewed signs that now is the time for change in payment behaviour. The main benefits of a cashless society highlighted by respondents include the reduced risk of the spread of infection (34 percent), followed by promoting financial inclusivity (32 percent), a more efficient society and less hassle (both 29 percent).

“During this difficult period, we should be looking at how to develop cashless payments across the country. While cash continues to be a preferred option for many Cambodians, now is the time to raise awareness among the community by promoting the speed, convenience and security that cashless payments have to offer,” said Visa Country Manager for Cambodia, Monika Chum.

Cashless payments growth is being driven by QR code payments and card payments among Cambodian consumers. In addition, among those not yet using contactless payments, 45 percent say they are interested in using them in the future.

These increases coincide with a growing interest in alternative payment options. QR code payments have seen a spike in use among consumers looking to carry less cash, particularly for bill payments and food and dining (both increasing 25 percent). The driving force behind this has been the pandemic, with an 8 percent drop in people using cash, compared with a 44 percent bounce among those opting to use QR codes to make payments on the grounds of increased protection from COVID-19.

“We know consumers expect the act of paying to be fast, secure and convenient and that’s why contactless payments are often the payment method of choice for small-ticket-size transactions and everyday spending. Once there’s broad contactless acceptance available at the places where people regularly shop [such as] supermarkets, convenience stores and petrol stations, contactless quickly becomes the default payment method for most of their face-to-face transactions. This presents an opportunity for Visa to collaborate with our partners to accelerate contactless payments across the country,” added Monika Chum.

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

Tags: CambodiaCovid in Cambodia
Previous Post

Cambodia mango processing factory, 4-star hotel given the green light

Next Post

HEINEKEN Cambodia finishes 80% vaccination drive

Related Posts

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

Neak Poan Temple is a destination for tourists to visit and take beautiful pictures

by Khmer Times
July 3, 2023
0
31

Neak Poan Temple is one of the most attractive tourist destinations among the ancient temples, which is located along the...

Cambodian pepper gains direct export rights to China

Cambodian pepper gains direct export rights to China

by Khmer Times
July 3, 2023
0
23

The Chinese Embassy in Cambodia announced today that Cambodian pepper has completed all export procedures to China, which means can...

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

Wrapped in blanket, dumped in pond: Top South Korean livestreamer found dead in Cambodia

by AsiaOne
June 14, 2023
0
44

One of South Korea's top livestreamers was recently found dead in Cambodia. Byeon Ah-young's body was discovered — wrapped in a...

Most Popular

Brutal catfight caught on camera: Woman at Taiwan KTV pours boiling soup on another over $900 debt

Brutal catfight caught on camera: Woman at Taiwan KTV pours boiling soup on another over $900 debt

April 23, 2023
129
Influencer in Cambodia has grown as digital dominates

Influencer in Cambodia has grown as digital dominates

January 8, 2021
192
South Korea’s top court overturns 2 soldiers’ conviction for gay sex

South Korea’s top court overturns 2 soldiers’ conviction for gay sex

April 22, 2022
97
New dairy farm in Cambodia, Kirisu, goes into fresh milk production operated by Khmer Fresh Milk

New dairy farm in Cambodia, Kirisu, goes into fresh milk production operated by Khmer Fresh Milk

July 17, 2020
341
Cambodian women become targets of online loan sharks who demand nude photos as collateral

Cambodian women become targets of online loan sharks who demand nude photos as collateral

October 17, 2022
20
Cambodia’s vehicle industry grown nearly 24% in nine months in 2021

Cambodia’s vehicle industry grown nearly 24% in nine months in 2021

January 1, 2022
132

© 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 !!