Local transfers push Wing revenue
Wing, a growing Cambodian mobile payment and money transfer company, had a better-than-expected 2013. In May, Wing’s CEO Anthony Perkins estimated that the company would reach transaction volumes totaling $1 billion by the end of the year, including domestic remittances, mobile phone top ups, bills and payroll disbursements. But an increase in domestic remittances – transferring money to someone inside the country for a small fee via mobile phone or by visiting one of the company’s Wing Cash Xpress outlets – drove transaction volumes to $1.5 billion last year. At least $1 billion of the total came from remittances. … In December alone, Wing’s product usage increased four-fold when compared to the same month of 2012, reaching $240 million. …
Eddie Morton
http://www.phnompenhpost.com/business/local-transfers-push-wing-revenue
