Visa, a world leader in digital payments, is introducing resources to help Cambodian merchants, especially small and medium-sized businesses (SMBs), take full advantage of Visa’s digital payment solutions to optimize the customer shopping experience and increase sales, particularly in the tourism sector. This is part of Visa’s commitment to empower Cambodian SMBs and boost tourism, a crucial growth sector for the economy, by helping more merchants offer seamless contactless payments.
The toolkit, available at https://www.visa.com.kh/en_KH/run-your-business/accept-visa-payments.html, offers merchants detailed, step-by-step instructions in Khmer and English, including a script for cashiers on how to initiate and complete digital payment transactions. The toolkit describes how most Visa cards have the contactless feature as identified by the symbol and includes instructions on how customers can tap the terminal with their card themselves to make payment – an experience preferred by consumers post COVID-19.
97% Of Asia Pacific Travelers Opt To Go Cashless When Travelling
Visa’s latest Global Travel Intentions (GTI) study found that 97% of Asia Pacific travelers opt to go cashless when travelling, with the number of travelers bringing cash on their trips decreasing by 60% post-pandemic. Only 31% of respondents brought cash during their travels in 2023, as compared to 79% in 2020, reaffirming the growing importance of digital payments in enhancing the overall travel experience.
By partnering with Visa, merchants can leverage the trust inherent in Visa’s brand name, which was named the world’s most valuable payments brand and the sixth most valuable brand in the world. Visa’s enhanced dispute resolution process protects small businesses and consumers through the network’s promise of zero liability for fraud or misuse, building trust and improving the efficiency of Cambodia’s burgeoning digital payments and e-commerce sector.
Contactless Payments Help Bolster Cambodia’s Tourism Industry
Contactless payments also help facilitate cross-border transactions, which in turn help bolster Cambodia’s tourism industry, one of the important growth pillars of the country’s economy. Cambodia’s tourism revenue and foreign arrivals more than doubled in 2023 from the previous year.
The Ministry of Tourism recently launched the “Visit Siem Reap 2024” campaign and other tourism-related initiatives to attract more tourists. As part of Visa’s efforts to promote tourism in the country, Visa partners with the Pacific Association of Tourism (PATA) to drive the Tourism Destination Resilience Program, which aims to build a more resilient and sustainable tourism industry
