Cambodian finch startup Clik is set to roll-out the trial of a new electronic payment solution to ease the problems of retailers forced to deal with multiple third-party payment providers, non of which interconnect.
The new payment solution will initially involve some 500 Cambodian businesses, and follows a newly inked partnership between Clik and MYPINPAD, a London-based global leader in payment acceptance and secure personal authentication solutions.
The partnership will allow Clik to meet merchants’ complete payment needs – whether via card or mobile payment – without them having to work with additional suppliers.
As part of the new relationship MYPINPAD will provide Clik with its Open mPOS mobile point-of-sale authentication platform.
The fully Payment Card Industry (PCI) compliant platform allows merchants and payment service providers to deploy PIN on Mobile technologies using existing infrastructure.
A first of its kind in South East Asia, the Clik partnership will help drive MYPINPAD’s entry into the region.
Speaking about the new partnership Matthew Tippetts, CEO of Clik, explained that “with its strong encryption, security, and its comprehensive authentication offering and commitment to achieving PCI SPoC certification, MYPINPAD is absolutely the perfect partner for us as we work to deliver a better payment experience for retailers and consumers”.
Morten Hofstad, head of Asia Pacific for MYPINPAD said “merchants of all sizes are looking to the payments industry to respond rapidly with products and services that meet their ever-changing needs.
“By working with Clik, MYPINPAD can meet that requirement for merchants in the region, providing them with a secure and convenient payment solution that provides a better shopping experience for their customers”.
Founded in 2016, Clik is a shining light in the fledgling Cambodian fintech sector. In Q4 last year it raised $2 million in seed funding, led by Limestone Technology and OpenWay, along with several angel investors from Cambodia’s retail sector. The company will launch in Q2 2019 once it receives its Payment Service Provider licence from the National Bank of Cambodia.
Feature photo MYPINPAD
- Fintech is the Single Largest Sector in Cambodia’s Startup Scene (FinTech News)
- Cambodia loans app gets funding ahead of fintech boom (TechInAsia)
- MYPINPAD Launches Open mPOS Platform for PIN on Mobile (PR Newswire)
She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018