SmartLuy, better than cash
PHNOM PENH, 16th November 2015 –Smart launched a new and better solution for cash transactions via its new service called SmartLuy. With SmartLuy anyone can make cash transactions electronically from utility and bill payments to money transfer and mobile top ups. –Smart launched a new and better solution for cash transactions via its new service called SmartLuy. With SmartLuy anyone can make cash transactions electronically from utility and bill payments to money transfer and mobile top ups.
Due to the low penetration of credit cards, debit cards and bank accounts in Cambodia but also due to the relatively high transaction charges imposed by banks in Cambodia, most of the consumers are still using the old, traditional way to pay everything in cash. However, cash transactions face the ultimate physical barrier since you need to pass it to another person physically to complete. And certainly carrying cash comes with risks.
Smart offers a better solution from now on: SmartLuy!
SmartLuy is not only available to the more than 8 million Smart subscribers, it is available to everyone in Cambodia who wish to make cash transactions faster, more secure and convenient, no matter where they are and whenever.
SmartLuy has no physical barrier; you are at home, at a café or park and you are able to transfer money instantly to your family or friends, to settle your utility bill, to make payments or to buy mobile top-ups.
SmartLuy is truly better than cash. Furthermore it is affordable as the fee for a cash-in transactions into the SmartLuy wallet is zerowhile only 50 cents for a cash-out transaction being charged, money transfers to other SmartLuy accounts costs as little as 25 cents for transactions below 25 USD and 50 cents for transactions above 25 USD, by far the most affordable transaction fees in the country. There are no charges for mobile top-up purchases for Smart or other mobile operators. Most of the bill payments have zero service fee while for utility payments a charge of only 50 cents per transaction applies.
SmartLuy is based on a partnership between Smart and ABA Bank and is fully licensed by the National Bank of Cambodia which makes it very reliable and trustworthy for customers. While launching with a wide range of payment partners already, Smart invites interested payment partners, MFI’s, insurances, e-commerce operators etc. to connect to SmartLuy and to use SmartLuy as payment enabler for their respective business. Especially e-commerce is heavily limited in Cambodia due to the absence of viable payment options for the consumers, SmartLuy is made to change this and to become an enabler for the digital economy in Cambodia.
Thomas Hundt, Chief Executive Officer of Smart said, “As a technology driven company, Smart will continue to offer innovative and creative services that bring positive change to the country. SmartLuy is a better way to make cash transactions and lowers down barriers for all. What could be more convenient than having the ability to make all payments or cash transfers on the fingertip in an affordable way, wherever, whenever? SmartLuy is obviously better than cash and I am sure the users will love it!”
SmartLuy is made for everyone, everywhere in the Kingdom. Smart subscriber can register for the electronic wallet but even without a personal wallet, Smart subscribers as well as non-Smart subscriber can transact via the nationwide SmartLuy agent network.
The SmartLuy wallet can be accessed via USSD *1111# shortcode dialing, via the SmartLuy website or via the SmartLuy mobile app, a very user-friendly app, which is available for all Android devices in Google Play Store now and for iPhones users in Apple’s App Store for download.
Consumers can have three different types of wallet, namely Classic, Silver and Gold depending on the size of the wallet you want to carry and depending on the level of user authentication carried out.
For more information visit www.smartluy.com.kh