Cambodian service provider Smart Axiata, and digital payments business TrueMoney Cambodia say they have signed a strategic memorandum of understanding (MoU) to expand access to essential telecom and fintech services across the country.
The two companies say they will work together to combine their service offerings, unify their retail and digital distribution networks, and jointly explore innovative digital solutions tailored to the needs of what they describe as Cambodia’s increasingly mobile-first population.
Smart Axiata and TrueMoney say they also plan to support the national agenda for financial and digital inclusion by launching joint awareness and educational campaigns.
In what appears to be an ambitious statement of intent, the partners say they aim to reduce complexity, lower distribution costs, and deliver locally relevant solutions that serve a diverse customer base. Future initiatives, focusing on enhanced digital payment solutions and improved customer experiences, are promised soon.
In fact, the two companies say they will roll out the partnership in phases, with more announcements expected in the coming months detailing product integrations and co-branded initiatives.
Mrs Frandara Khuon, CEO of TrueMoney Cambodia, explains: “At TrueMoney, we believe in democratising access to financial services. Collaborating with Smart Axiata allows us to reach more Cambodians with simple, secure and smart digital services, fostering a more connected and financially empowered society.”
Smart Axiata is estimated to have more than eight million subscribers, putting it behind Viettel Cambodia subsidiary Metfone, which is estimated to have over nine million subscribers. The third-biggest operator in the country is Cellcard, with over four million subscribers.