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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