Fullerton Financial, a unit of Singaporean investment firm Temasek, has introduced a new digital payment platform in Cambodia in association with Canadia Invesment.

Dubbed DaraPay, the new wallet will facilitate local remittances, loan repayments, along with cash withdrawal and deposit.

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The wallet currently has more than 700 agents across Cambodia, a figure that is expected to increase to 2,600 by the end of 2019.

Canadia chairman Neak Okhna Pung Kheav Se said: “Digital payments will be a key enabler, and we seek to grow DaraPay into a significant player in the market. Canadia looks forward to fully supporting DaraPay across its extended ecosystem, starting first with Canadia Bank. ”

Fullerton executive vice president Loh Niap Juan added: “We believe that Cambodia is at the inflexion point in its development of digital payments, and we are excited to be part of this journey with the people of Cambodia.”

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