Payment gateways are the systems that process payments on websites. When you make a purchase from a website using a credit or debit card it will be processed by a payment gateway in the background. Website owners and e-commerce entrepreneurs often need to implement payment gateways in their projects but options are limited in Cambodia. Here is some information about finding a payment gateway in Cambodia.
What choices do I have for a Cambodia payment gateway?
If your business is legally registered in Cambodia, you can create a business bank account with a Cambodian bank that accepts credit card payments. In our list below, we’ve reviewed the top choices for a payment gateway in Cambodia.
Unfortunately, there aren’t any options available right now for private people or unregistered firms who want to accept payments online. Most individuals and small businesses just handle payments manually by bank transfers, instead of through an online gateway system. But if you are a registered business you have options.
1. ABA PayWay
The outstanding mobile app that ABA Bank offers to banking customers demonstrates their position as the technological market leader by a considerable margin. PayWay is a payment gateway that is available in Cambodia for companies that want to accept credit cards and has been used successfully on many e-commerce websites. Depending on the mode of payment, transaction costs can range from 3.6-3.8% of each transaction, with payments made using ABA Bank’s own client cards having a significantly lower rate. Even while fees are still high compared to other local possibilities, they are nonetheless reasonable.
Using ABA PayWay your customers can also pay by KHQR code. ABA customers can pay direct from their account instead of using their card.
If you use WordPress and WooCommerce for your online store then setting up ABA PayWay is easy using their official WordPress plugin.
ABA PayWay information can be found at https://www.ababank.com/payway/
iPay88 is a recent addition to Cambodia’s payment gateway options and was established here in 2016. It is a fully fledged payment gateway service that can link with many banks including Acleda and Cambodian Public Bank, and many payment services in Cambodia such as Wing, Alipay, WeChat Pay, and more. It also supports the KHQR national QR-code system. iPay88 is an excellent option to look into if you don’t want to be tied to a specific bank for your payment gateway.
The company operates in multiple markets in Southeast Asia including Malaysia, the Philippines and Thailand.
You can find out more on the iPay88 website at https://ipay88.com.kh/
3. Acleda Bank – MIGS
Acleda, one of the country’s original and biggest banks, has long been a major player in the banking industry in Cambodia. The payment gateway system is built on MIGS (MasterCard Internet Gateway Service), so any MIGS plugins for well-known e-commerce software should function with it. Comparing that to other possibilities that can require custom-coded solutions is a huge plus.
You may learn more about the Acleda payment gateway at: https://www.acledabank.com.kh/kh/eng/ps_ebecommerce
4. Cathay United Bank
The first bank to provide an internet gateway was Cathay United Bank (previously SCB Bank). Although it has improved recently, the fees are still high — 4.2% per transaction at the time of our most recent review. This online payment gateway, like Acleda’s, is based on MIGS and is hence extensively accepted by ecommerce platforms. VISA, MasterCard and JCB cards can all be used to make payments through the Cathay United Bank payment gateway.
You can learn more about the Cathay United Bank payment gateway on their website: https://www.cathaybk.com.kh/business/merchant-services/
Why am I unable to use PayPal in Cambodia?
This query has been addressed countless times. Because you cannot withdraw money from a PayPal account into a Cambodian bank account, PayPal is simply not an option for companies or merchants who wish to accept payments in Cambodia. You can register as a customer to make purchases online and send money exclusively.
PayPal has made accepting online payments simple for millions of people and small businesses around the world, but not in Cambodia. It is unlikely that this will change very soon; it is possible that the reason for their choice not to permit this is connected to the fact that Cambodia uses the US Dollar as its principal currency, and that their decision not to permit withdrawals may be tied to anti-money laundering laws.
If you have a bank account in one of their recognised countries, you can still use PayPal to sell online; you’ll just have to accept any payments into that account rather than your bank account in Cambodia.
What about other well-known global payment gateways?
Additionally, Cambodia does not support major international payment card gateways like Stripe, 2Checkout, WorldPay, Authorize.net and others. If you visit each you can look at the list of “supported nations” and you will rarely see any that support Cambodia.
We hope this gives you some information regarding the choice of an online Cambodia payment gateway.