In a recent announcement, European fintech giant Inpay revealed a groundbreaking partnership with Cambodia Post Bank Plc. (CPBank) aimed at introducing international money transfer services in Cambodia.
This strategic move aims to connect Cambodians worldwide through fast and affordable cross-border cash remittance services.
For the first time, Cambodians abroad can instantly send money to friends and family at home through CPBank’s extensive network of over 60 nationwide branches.
This revolutionary service is facilitated by Inpay’s Eurogiro network, a colossal postal network comprising 70,000 post office locations globally.
Thomas Jul, CEO of Inpay, expressed his enthusiasm about the collaboration, stating, “By granting CPBank access to global remittances through Inpay’s Eurogiro network, we have simplified, expedited, and made more affordable the process for Cambodians to receive cash transfers from abroad.”
The alliance underscores Inpay’s commitment to fostering an international, accessible financial infrastructure, particularly in regions where it’s most needed.
CPBank, established in 2013 through a collaboration between CANADIA Investment Holding Plc., Cambodia Post, and Fullerton Financial Capital Pte., has risen to prominence as one of Cambodia’s fastest-growing commercial banks.
Its CEO, Toch Choacheck, remarked on the significance of this partnership for the nation, emphasizing the vast number of Cambodian migrant workers who regularly send remittances home.
“This new service enhances the spectrum of remittance options in Cambodia, and it promises to invigorate economic activity and promote an inclusive financial system,” Choacheck said.
Inpay’s prowess in offering swift, secure, and economical cross-border payments has already been well-established. Its expansive Eurogiro network extends even to the remote corners of the world, often reaching areas that other financial services bypass.
Conclusively, this partnership between CPBank and Inpay heralds a new era for Cambodians globally. As both entities align their visions, the promise is not just of an advanced financial solution but a brighter, more connected future for Cambodians everywhere.