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The inauguration ceremony of the Cambodian Shared Switch was held today, July 4, with the participation of Ms. Chea Serey, Deputy Governor of the National Bank of Cambodia.
Serey said that the development of the CSS system is another new initiative of the NBC to facilitate payment transactions through payment cards in Cambodia, which will allow customers to operate CSS debit cards on ATMs to perform cash withdrawals, balance checks, printing of summary reports, quick payment services and password changes.
At the same time, customers can also make CSS debit card transactions on POS machines, such as purchases, balance checks, cash withdrawals, fund transfers, as well as allowing payment service providers to join the system, which will enhance access of financial services.
Char Sopheap, Chairman of the Payment Committee of the Banking Association of Cambodia, believes that the CSS system contributes to prevent unacceptable events, such as passing of counterfeit cash and torn banknotes.
He added that it will help users save time, trust and security. All CSS customers can make payments via POS and withdrawals from ATMs from all participating banks and microfinance institutions across the country.
Sok Voeun, Chairman of the Board of Directors of the Microfinance Association of Cambodia, acknowledged that the launch of the CSS system is very important to improve the financial sector as a whole by expanding the scope of operations of banking and finance institutions.
