The end of physical currency draws near

Cambo Pay Co. Ltd. - Guardians of Electronic Payments in Cambodia

Making quality a cornerstone in the mobile banking


© 2016 RaMena / DaVega

Physical money, understood as bills and coins, is on the way towards extinction. And this is even acknowledged by prestigious institutions like The European Payments Council, who claims that “the 360 billion euros cash transactions, done yearly in the European Union, cost at least €50 billion euros per year” making the use of physical money pretty expensive.

And physical money will only turn out to be more and more expensive every year, mostly because of the increased counterfeit measures it needs. As technology for 3D scanning and printing progresses every year, countries like the United States and Germany need to include additional security features in their bills and coins; otherwise they will be overrun by illegal money.

Adding up to all of this factors, the information technologies and the expansion of Internet access, have created an almost perfect environment for the proliferation of electronic money. Credit cards, debit cards, electronic transactions and even e-currency, become more and more common every day. In this virtual economy, someone needs to recheck and protect the fidelity and legality of all this loose virtual money. This complex task is filled with predicaments. It is difficult and it requires a high degree of technical proficiency and quality.

Cambodian technological savvy makes the use of electronic money safe

 

This is precisely what the Cambodian electronic and mobile pay company Cambo Pay Co., Ltd. does for a living. This technological enterprise, currently occupying the number one spot in the Cambodia mobile banking and mobile payment rank, offers a broad spectrum of electronic payment services, both for the banking sector and for companies in the service sector.

Cambo Pay provides service in online payment and mobile payment focusing on Financial institutions such as banks, microfinance, as well as big merchant as public utility company (water supply, electricity) or airline companies.

They have a strict policy of compliance with all the international regulations that this complex line of work demands. Among their certifications the ISO 8583 and the SMTP 4.5 stand out.

© 2016 RaMena / DaVega

Furthermore, Cambo Pay does two vital things for any company that prides themselves as followers of the Total Quality Culture: they are socially responsible and they believe in customer satisfaction and customer support approach.

This customer support is controlled via their own web page, offering online chat and video chat, as well as providing several other more traditional ways to contact them.

Concerning the social responsibility Cambo Pay has decided to return to the community in which they do business, some of the benefit they have achieve through their hard, diligent work. And they do this by contributing funding, under the name of Mr.Tran Tri Manh (Cambo Pay Chairman and CEO) the activities of the NGO Operation Smile Cambodia, an NGO dedicated to provide free medical treatment for kids born with the genetic defect of the cleft lip and palate.

It is for their unyielding commitment towards excellence in one of key fields of the modern economy, electronic money and electronic payment management, that Business Initiative Directions has awarded Cambo Pay with the BID Quality Award, in recognition to their continuous improvement, social responsibility management and customer satisfaction policies, proving once more, that excellence and quality are a foundation stone for business success.

ABOUT BID AND THE CENTURY INTERNATIONAL QUALITY ERA AWARD:


BID is a private and independent organization founded in 1984, whose primary activity is business communication orientated towards quality, excellence and innovation in management. A leader in the broadcasting of Quality Culture, BID recognizes those companies and organizations which lead the most important activities in the business world, and is considered the founding organization in the broadcasting of the Culture of Quality, Excellence and Innovation in 179 countries. The trophy symbolizes a pledge to the principles of Quality Culture. The QC100 Total Quality Management Model, together with the Quality Mix program, media coverage of the convention and its impact on the community and business sector, create an unmatched platform for continuous improvement within the organization and awareness of the achievements of the company at an international level. Awards are given only to those who are committed to improving their Quality Culture based on the principles of the QC100 Total Quality Management Model. Candidates are proposed by the leaders of previously awarded companies who they consider worthy of the award. Especially meritorious candidates may also be nominated. The International BID Quality Award Selection Committee then chooses the winning companies who will receive the award in New York, Paris, Geneva, Frankfurt, Madrid and London.