A recent report by Profitence highlights Cambodia's rapid digital transformation, with booming adoption of digital payments driving a surge in e-commerce. The market grew to US$1.51 billion in 2024 and is projected to hit US$1.81 billion by 2029. Key drivers include the widespread use of QR code payments, particularly KHQR and the Bakong system, which saw transaction volumes rise significantly in 2023 and 2024. Government efforts to expand cross-border payment integration and initiatives like the Regional Payment Connectivity (RPC) further support this growth. Digital banking now reaches 60% of the population, with QR payments surpassing cash usage. Fintech players like Wing Bank and TrueMoney are playing vital roles, offering services that enhance financial inclusion and drive Cambodia's digital finance evolution. (Summarized by chatgpt.com) Read full article