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Payments General

WING, Mastercard partner for financial inclusion in Cambodia

Monday 29 January 2018 | 10:05 AM CET

Mastercard and Wing Limited Specialised Bank (Wing) have launched the Wing Online Mastercard, a virtual prepaid card.

With the new prepaid card, Cambodians will be able to access a wide range of payment services; cardholders will simply have to top up their Wing accounts and shop at any online store displaying the Mastercard logo. The solution can be used in Cambodia with local partners, as well as with merchants around the world. It is accepted at global online shopping platforms including Amazon, Alibaba, AliExpress, Taobao and eBay, as well as travel websites such as Booking.com and Expedia.

Research by the Asian Development Bank indicates that implementing digitally-driven financial inclusion solutions could boost Cambodia’s Gross Domestic Product by 6%. In emerging markets like Cambodia, access to seamless payments systems is key to unlocking inclusive growth. According to research from Oliver Wyman and the Asian Development Bank, nearly 87% of adult consumers in Cambodia do not have bank accounts. Moreover, the latest projections from the International Monetary Fund indicate that Cambodia has tracked a leap in Gross Domestic Product by 6.9% in 2017.

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