Ministry of Commerce and ABA Bank Partner to Launch Online Payment for SETFO System
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Phnom Penh, Feb. 4 – The Ministry of Commerce and ABA Bank have entered into a strategic partnership to strengthen Cambodia’s financial sector and promote digital transformation in public services.
A memorandum of understanding (MoU) formalizing the cooperation was signed in Phnom Penh on February 3, under the presidency of H.E. Buon Sarakmony, Secretary of State at the Ministry of Commerce. The signing ceremony was attended by senior officials from the ministry and executives from ABA Bank.
The agreement aims to foster collaboration in financial technology, supporting a more dynamic and modernized sector aligned with national policies and global trends. Through this partnership, both parties seek to enhance Cambodia’s digital financial infrastructure and improve accessibility for businesses and the public.
As part of the initiative, the Ministry of Commerce also introduced an online payment system for the Secured Transaction Filing Office (SETFO). This marks the first-time integration of online payment services into the SETFO system, in collaboration with ABA Bank. The new system is designed to offer greater convenience, flexibility, and security for users, improving the ministry’s efficiency in delivering public services.
With this integration, SETFO users can now pay service fees directly via the ABA Mobile App, eliminating the need for in-person payments at the Ministry of Commerce. This digital payment solution is expected to streamline transactions and enhance the ease of doing business in Cambodia.
The strategic partnership between the Ministry of Commerce and ABA Bank highlights a significant step toward strengthening Cambodia’s financial ecosystem and promoting the adoption of fintech solutions in public services.
Source: Ministry of Information
