Pi Pay handles more than 100,000 transactions over past month

Just one month into operation, the mobile payment platform Pi Pay has already handled more than 100,000 transactions at 150 merchant locations across Phnom Penh, processing over $1mn, according to the company CEO. Tomas Pokorny, CEO of Pi Pay Asia, said over 30,000 smartphone users have downloaded the Pi Pay app, adding that the progress has surpassed the company’s expectation. Pi Pay plans to go fully cashless within this month, meaning that users can get money in and out through banking partners, Pokorny revealed. While he declined to name the banking partners, he said 10 major commercial lenders had already agreed to roll out the platform, which also provides digital payroll services. The company has also inked agreements with 1,400 businesses to utilize the service, which is expected to be available at over 300 merchant locations by the end of the month. (Source: Phnom Penh Post)