Researchers
have been looking into the social impacts of wireless technology allowing Cambodians
to transfer money using their mobile phones. Cambodia is now embracing this approach,
popular in developing countries where many people don't have access to the
formal banking system but do have mobile phones.
Wing is
one of the mobile-based banking services now available in Cambodia.
In Cambodia,
the abolishing of banks under the Khmer Rouge in the 1970's and traditional
preferences for keeping wealth in gold, jewelry and cash, means that formal
banking has been slow to grow. But Cambodia is one of the countries
taking up this mobile phone money transfer technology. Research suggests the
availability of mobile phones to use for banking is driving an increase in
Cambodian’s personal savings, small businesses and conventional, brick-and-motor
banking.
