� Gain insights into key regulations governing the Cambodian cards and payments industry .
Browse Full Info with TOC : http :// www . marketresearchhub . com / report / the-cards-andpayments-industry-in-cambodia-emerging-trends-andopportunities-to-2021-report . html
Key Highlights :
The National Bank of Cambodia ( NBC ) launched the Fast and Secure Transfer ( FAST ) Payment system in July 2016 . FAST Payment offers a quick , secure and efficient method of interbank transactions in local currency for commercial banks and micro deposit-taking institutions ( MDIs ). FAST Payment offers its services to 13 commercial banks and MDIs . Banks that have adopted this system include Acleda Bank , Cambodian Public Bank , Canadia , Advanced Bank of Asia ( ABA ), BIDC , Phillip and Sathapana . The NBC is developing a Shared Switch System , an integrated platform to facilitate electronic payments such as transactions at ATMs , POS terminals and online and mobile payments .
Leading international schemes , including MasterCard and UnionPay International , are making their presence felt in the countrys debit card market , which was previously dominated by Visa . MasterCard is collaborating with several banks to strengthen its foothold in Cambodia ; in July 2016 , for instance , MasterCard established partnerships with 13 banks in Cambodia , including six foreign-owned banks and Acleda Bank , the leading debit card issuer . UnionPay International collaborated with ABA to offer the ABA UnionPay Debit Card in Cambodia , following their card issuance cooperation agreement in 2014 .
The emergence of mobile banking applications is likely to accelerate a shift towards alternative payments in Cambodia . In May 2016 , Maybank launched a mobile banking app for customers in Cambodia , allowing