E-wallet payments in Cambodia up 80 per cent in 2023

PHNOM PENH (Xinhua): Cambodian Prime Minister Hun Manet has announced that mobile payments in the South-East Asian country increased to US$492 billion in 2023, up 80 per cent from US$272.8 billion in a year earlier.

Speaking at the opening ceremony of the first digital government forum in Phnom Penh, Hun Manet said digital payment services have gained strong momentum in the past few years due to the Covid-19 pandemic.

"The pandemic had driven the wider use of digital technology," he said. "The total amount of digital payments surged to 492 billion U.S. dollars in 2023, approximately 16 times the gross domestic product (GDP)."

According to the prime minister, the number of registered e-wallet accounts rose to more than 19 million in 2023.

National Bank of Cambodia's Governor Chea Serey said in January that mobile payment services had significantly contributed to enhancing financial inclusion, promoting innovation, and providing convenience and safety to users.

She said Cambodia had steadily expanded its payment system connectivity with countries in the region and international payment systems, offering a wider range of payment possibilities for Cambodians and international travelers. - Xinhua