Finance & Banking

ACLEDA Installs QR Codes at Pagodas for Pchum Ben Offerings

ACLEDA Bank has deployed QR plates to the nation's pagodas ahead of the Pchum Ben holidays to cater to the rapid rise in demand for digital payments.
ACLEDA Bank deploys QR plates to pagodas ahead of the Pchum Ben holidays. Kiripost via ACLEDA Bank
ACLEDA Bank deploys QR plates to pagodas ahead of the Pchum Ben holidays. Kiripost via ACLEDA Bank

As the ease of financial technology, money transfers, and payments widely increase, and with Pchum Ben – the Festival for the Dead – fast approaching, ACLEDA Bank has introduced digital payment technology to Cambodia’s Buddhist monasteries.

As part of its nationwide campaign to promote digital payments, the bank’s staff have reached out to pagodas to dish out QR Code plates. This means financial offerings for the religious festival can now be paid by scanning a QR code.

In addition, those unable to visit their hometowns during the holiday can make a digital money transfer via the ACLEDA Mobile app in a few pushes of a button. Recipients can then conveniently go to one of the 1,102 ATM machines across the country to cash out.

For those who do not have an ACLEDA Mobile, it can be downloaded from the App Store, Google Play, and AppGallery. Your mobile phone number will be your ACLEDA Mobile account number.

According to the latest figures from ACLEDA, 95 percent of its customers use ACLEDA Mobile to conduct mobile banking transactions. Only 5 percent visit bank offices for transactions involving large amounts of cash or other services requiring in-person presence of customers.

ACLEDA Bank Plc. is one of the oldest and largest banks in Cambodia. It has four subsidiaries. They are ACLEDA Institute of Business, ACLEDA Securities Plc., ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd. as well as representative offices in the Republic of the Union of Myanmar.

By June 2022, ACLEDA Bank Plc. had $8.34 billion in total assets; $6 billion in total credit balance; and $6.01 billion in total savings deposits, with more than 3.59 million customers. [Partnered Content]