Wirecard-Backed Cashless Payment App Nears Public Launch

A startup that aims to bring electronic payments to Cambodia’s shops and restaurants has opened its mobile app for public download.

Claiming to be the only e-wallet system in the country that targets purchases at physical outlets, Pi Pay (pie-pay) has been rolling out an invite-only trial over the past several weeks that has been used by 1,000 people, according to a statement released by the company on Thursday.

Now, the statement says, the app can be downloaded from mobile app stores and used by anyone, though Tomas Pokorny, Pi Pay CEO, said its official public launch was yet to come.

“We will not rush to release something that neither we, nor the many Cambodians who will use the app, are completely happy with,” Mr. Pokorny said.

The CEO would not disclose how many shops currently accept Pi Pay, saying only that it was “many,” including Legend Cinema.

Pi Pay would provide the payment terminals to shops, he added.

The app uses QR codes for payments and is modeled on popular Chinese apps WeChat and Alipay, and the registration process requires that users have their ID card or passport on hand, the release says.

The company is backed by global payment technology company Wirecard, supported by CIMB bank and licensed by the central bank, it adds.

Several other e-wallet apps have been released in the country, including PayGo and SmartLuy, with most of them focused on online payments or specific functions, such as buying food or paying utility bills.

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