May 11, 2011

Mobitel submits documents for licence to operate Cellcard Cash service (Cambodia)

Mobitel has submitted the documents required for a licence to operate its Cellcard Cash service.
According to NBC director general Nguon Sokha, approval from the National Bank of Cambodia (NBC) for the mobile money service is expected shortly.

Mobitel launched its Cellcard Cash money transfer scheme last September without applying for oversight or linking with a bank for payment processing, as stipulated in an NBC edict.

The NBC stated that Mobitel now complies with all requirements and the licence application process is not expected to take long. Mobitel will be partnering with Union Commercial Bank to provide the service.

Mobitel had received an undisclosed amount of funding for Cellcard Cash from the Mobile Money for the unbanked programme, which had been funded largely from the Bill and Melinda Gates Foundation. That funding was frozen due to the oversight issues.

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