E-Commerce Luncheon | The Current State of E-Payments in Cambodia
EuroCham co-hosted with BritCham on May 30th 2016 to discuss digital payments in Cambodia with a panel of e-commerce and banking companies.
The panelists communicated that apart from boosting sales for businesses, online payments could bring convenience to consumers who might want to purchase goods located in other cities in Cambodia, or who would want to know whether or not a product is available (eg. Movie tickets at cinemas).
However, panelists agreed that there are still several barriers to overcome before it is widely adopted by the public, such as lack of supporting infrastructure and awareness of digital payments. Currently, Cambodians usually order online and pay offline once delivered since they are able to see the product before actually buying it.
Because of this, companies are now starting to implement a customer guarantees that protect the consumer. E-commerce companies also favor the Riels (mirroring the Royal Government’s preferences) as it is easier than using two different currencies. E-Commerce is indeed complimentary to the project of dedollarization pursued by the Government who is now reviewing the Industry Code of Practice in order to regulate E-Commerce and digital payments.
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