Wing, WorldRemit Get Together for Cambodia
The notion of sending money to the folks back home when you work somewhere else—sometimes called “remittances”—is a familiar issue for many, even if it’s a bit of a hot button politically in some places. Those who are sending cash back to Cambodia, meanwhile, will likely have an easier time of it thanks to a new partnership between Wing Cambodia Limited Specialized Bank and WorldRemit, word of which was sent our way.
WorldRemit is a major force in digital money transfer, so much so that Arsenal made WorldRemit its Official Online Money Transfer Partner. Wing, meanwhile, is the largest mobile banking services provider in Cambodia, making the two firms a fairly natural fit. Now that they’re together, meanwhile, Cambodians currently living and working in over 50 different countries can now send money back to the million-plus mobile banking accounts Wing currently supervises.
The countries involved include some of the world’s great powers: Australia, Canada, France and the United States. Once the money is received, Wing account holders can then use that cash to pay bills, pay for goods and services at a wide range of merchant operations, or just cash out directly. The funds can not only be received in US dollars, but also in Cambodian riel, making it that much more versatile.
Convenience is always an important part of any user experience. It may not be the most important, depending on who you ask, but it’s generally in the top three for most users. By improving the means to send remittances to Cambodia, that makes it more likely that citizens will go looking for work elsewhere if none is to be had in Cambodia proper. If it’s easier to do something, the chances that it will be done increase dramatically, and the combined efforts of Wing and WorldRemit should do just that.
It’s a safe bet that more Cambodians will put this system to work thanks to its sheer convenience, and if other banks in the region don’t want to lose out on market share, they’ll be stepping up their own operations in short order.