He sat down with the company's commercial director True Money under the Ascend Group, a subsidiary of Thailand's CP Group, told the Post Cambodia's many market opportunities prompted True Money into Cambodia.
He said: 'We see the opportunity we see people at risk [informal] True Money [investment on the service].
He added that the population of about 90 per cent of the total population have no bank account, which is also the reason urged True Money capture the market. He said: '[services] support their lives to make their lives better there security easy and low-risk.
According to a report by the World Bank as of 2013, the population aged over 15 years who have an account in legitimate financial institutions Only 3.7 percent of the total population.
Investment for the first phase TrueMoney will focus on money transfers, while the next phase, the company will serve money transfer service between Cambodia and Thailand, and remittance network expansion across the region in 2016. Currently, the company has a presence in Thailand, Myanmar, Indonesia, the Philippines and Vietnam already.
He said: 'This $ 15 million is the starting point. We plan to expand the network international money transfer service in the near future, and in 2016 we will complete [expanding ] in the ASEAN countries.
Although he did not reveal the value money transfers, but claimed that TrueMoney transfer fee that can accept For customers in accordance with the current market.
He said: 'We do not want to focus on the war in the market. We will focus on the quality of products and services and our agents. He added that: '[The company] will create the largest agency network is the first choice of the solution cost and create a partnership .
The market's True Money has become this kind of service agents after 5 Wing AMK Mann and Asian money . In addition to money transfer services, the company also serves as well as other services such as mobile recharge and lottery sales pay fees water, electricity, cable television, Internet and other expenses through the company's accounts.
Treasury executive director of mobile banking and manage a network of microfinance AMK money transfer operators AMK-2 500 agents across the country, said that the additional new services will be a good thing for consumers and will help promote the exchange services in the field of quality .
He said: 'for consumers is a good factor for him. He will have more choices, and [service] which is better.
In addition to collaboration with Phillip Bank to provide money transfer service True Money also is working with three mobile phone service provider including Metfone, Smart, qb, and signed an agreement with two more companies are CoolTel SeaTel and to provide other services.
Currently TrueMoney 5 billion where agents across the country to provide services, and the company plans to open operations in January 1, 2016.
Mrs. Thorn Sovannary company's transfer agent, said her customers have dropped from about 450 per day only about 130 people from a new service provider. She said: '[Customers] fell by Mann and Wing put more agents.
She said that if TrueMoney open in the early stages may not make impact on her business, but it will affect If the new company to expand its market influence.
Bangkok Post reported that TrueMoney plans to expand its presence across the region through the acquisition of companies and joint ventures .LA
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