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Read the WING Case Study

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About the company

Operating in Cambodia since February 2008, WING is a provider of mobile phone payment services. WING’s services allow customers to transfer, store and cash-out their money using a mobile phone. WING sought ECF support to expand its services to rural Cambodia because the cost of rural expansion was difficult to justify on commercial grounds.

Total grant funding approved: ECF A$1,500,000

About the project

With the support of ECF funding, WING will provide affordable and convenient payment services to rural Cambodians. Many Cambodians living in rural areas rely on money sent back home from family members working in urban areas. Without access to an affordable means of transferring money, this process can be costly and time consuming. Currently, the only options for transferring funds are in person (costing US$3-5 for transportation) or via courier (costing $US1-3 in fees).

The WING project being funded with the ECF grant will allow customers and businesses to transfer money between each other instantaneously. WING is estimated to reach more than 560,000 rural receivers in five years (people who receive remittances from urban families members) . This service will be Cambodia’s first national payment platform, providing a secure and affordable means to move and save money as well as to purchase goods and services.

Results December 2012

  • As at December 2012, WING has over 380,000 customers signed up (as at December 2013 this is over 500,000) to the payment platform with 30% frequent and regular users. WING estimates that 1 in 6 Cambodian adults are using WING regularly.
  • WING has trained over 950 merchants (small business owners) to provide WING cash in and cash out functions (called WING cash express) operating in both rural and urban areas.
  • Remittance income transferred by WING has tripled since December 2011 from US$3 million monthly to US$9 million and remains a small part of the US$300 million per month national remittances in Cambodia.
  • WING operates in all provinces of Cambodia and is available in 169 of Cambodia’s 185 districts.
  • Based on research conducted by the International Financing Committee in 2012, WING is reaching previously unbacked customers with 80% previously having no bank account.
  • WING services are available around the country with 80% of customers outside of Phnom Penh and 60% of customers in non-urban areas. Only a small majority of customers are men (65%).
  • WING estimates that an average domestic transfer – usually conducted by a network of money changers or sending funds physically via taxis would cost $2.50 whereas the price of a WING transfer varies between 0.5 cents and $1. This is an average saving for clients of US $19 per year on transactions, which has some significance to those earning low wages.
  • WING has achieved significant results and is poised to continue market expansion in both urban and rural markets.
  • Current management focus is on the urban and semi-urban market and optimizing current service offering and operational efficiency and profitability.