Webshop online paymentsThe number of shops in Cambodia wanting to sell services and products online is growing.
There are quite a few options available.
Online Payments in Cambodia
Offering online payments used to be difficult for Cambodian businesses, but has improved a lot over the past few years, as Khmer customers and Cambodian businesses are moving towards digital payments, too. Luckily, some Cambodian based banks understood this demand and now offer Merchant Account and Online Payment Gateway services, along with mobile payment options specifically for the Cambodian market.
What are your options for online payments in Cambodia? We explain them here.
Favorite: ABA Bank PayWay
PayWay is an online payment gateway offered by ABA bank. The service works much like any other payment gateway service, but offers – in our opinion – a much smoother customer experience than the solutions offered by Cathay United and ACLEDA.
PayWay accepts payments with VISA, Mastercard or UnionPay cards and you receive the funds directly in your ABA business bank account
Fees vary between 3.6-3.8% of each transaction, with payments made from ABA Bank’s own customer cards having a much lower rate.
The integration of ABA’s system is really simple, and on top of that their technical team is always available for help if needed.
PayPal: NOT Possible
PayPal is the easiest method to receive online payments by credit card or via PayPal itself. However, the company has no relations with any bank in Cambodia.
The only possibility is to have a bank account in another country linked to your PayPal account. Otherwise, PayPal is not possible for Cambodian businesses.
Cathay United Bank
Cathay United Bank (formerly SBC Bank) was one of the first banks in Cambodia to offer an online payment gateway.
Their system is based on MiGS (MasterCard Internet Gateway Service). Don’t get confused by the name, they also accept VISA and JCB cards.
However, their fees are quite high, compared to other local Cambodian bank alternatives: 4.2% per transaction.
ACLEDA was the second bank to offer online payments with their E-Commerce Payment Gateway.
ACLEDA uses the same MasterCard Internet Gateway Service (MiGS) as Cathay United Bank, which means it works with any MiGS plugins for popular e-commerce software (like WooCommerce).
Other options (but local only)
WING is primarily a phone-to-phone payment service and very popular among Cambodians. They can send and receive money nationwide, the company has a large network of agents and also offers a solution for online payments.
The only thing you have to do is open a free business account. Once that’s done you’ll get instructions on how to implement it on your website to receive online payments in your Wing account. This service is only available for customers within Cambodia.
Pay&Go is a service provided by ABA Bank. To use the service, customers first have to sign up using a mobile phone number.
This only works for Cambodian phone numbers, so not suitable for international customers.
PiPay is a service very similar to the above Pay&Go. To use the service you have to cash in, filling your ‘wallet’ with Khmer riels or US dollars (400,000 riels or $100 maximum).
Also, mainly for local use.
for your eCommerce business?
What do we recommend?
Until PayPal enters the Cambodian market, the services offered by ABA Bank are the most robust, secure and comparatively easy to implement. Second are payment gateways by Cathay United Bank or ACLEDA Bank (but at a higher cost).
If you primarily target customers within Cambodia, WING, Pay&Go and PiPay can be alternatives.