Ly Hour to integrate payment solutions into Cambodia Trade

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The commerce ministry rolled out CambodiaTrade in June to open new pathways for the Kingdom’s smaller businesses to sell their wares to a broader audience and capture a slice of the growing global digital economy. Heng Chivoan

Ly Hour Pay Pro Plc, a subsidiary of Ly Hour Group, is keen to integrate its digital payment solutions into the Ministry of Commerce’s CambodiaTrade e-marketplace, the ministry said in a press release on July 28.

This, it said, would facilitate the online business of small and medium-sized enterprises (SMEs) in Cambodia transacting on the platform.

 

Ministry undersecretary of state Samheng Bora discussed the matter in a meeting with Yun Phan, CEO of Ly Hour Pay Pro – also known as Ly Hour Veluy, via Zoom on July 27.

Bora said discussions are underway to explore the possibility of integrating Ly Hour Pay Pro’s services into CambodiaTrade, a move he remarked would “increase convenience and reduce some of the time customers and SMEs in Cambodia spend conducting online transactions”.

He voiced appreciation for Ly Hour Pay Pro’s willingness to work with the ministry, and asked two pertinent technical working groups to ensure that the integration process completes successfully.

The ministry rolled out CambodiaTrade last month, aspiring to open new pathways for the Kingdom’s SMEs to sell their wares to a broader audience and capture a slice of the growing global digital economy.

The e-marketplace is operated through CambodiaTrade.com under the auspices of the ministry.

The market was established with the financial support of the Enhanced Integrated Framework under the Cambodia e-Commerce Development Project (Go4eCAM), the main purpose of which is to promote the benefits of e-commerce for SMEs, according to the ministry.

 

As of end-2019, there were 52,154 formally registered SMEs in the Kingdom, with 824,245 employees, according to the latest figures from the Ministry of Industry, Science, Technology and Innovation.