What can I say? From the desert skyscrapers of Dubai to the bustling, rain-soaked streets of Phnom Penh, my recent business trip for Xprizo felt like stepping from a convection oven into a steam room, if the steam room occasionally threw in a thunderstorm for good measure. I must admit April in Cambodia is not for the faint of heart (or weak of sweat glands) with daytime highs that hover around 34–36°C, and with the humidity so thick you could slice it with a chopstick. Then you add the thunderstorms that tend to roll in just as you’re starting to dry off. It’s the kind of weather that makes you thankful for every iced coffee, every whirring ceiling fan, and every tuk-tuk ride, wind in your face, as you weave through the city’s quieter side streets or the bedlam of the main streets.

A Landscape in Flux

Landing in Phnom Penh after three years away, I was amazed how efficiently I passed through immigration quicker than I have ever done so in most European airports. Travelling to my hotel seeing Phnom Penh  was like seeing a city that’s grown up fast but hasn’t lost its youthful energy. The skyline is punctuated by new high-rises, satellite cities are sprawling outward, and infrastructure projects are everywhere, flyovers, new business districts, and a riverfront that’s more vibrant than I remember. The city’s master plan to become a competitive economic and cultural hub by 2035 is clearly in motion, with urbanisation and development visible on every street corner. Yet, beneath the cranes and construction, the soul of Phnom Penh remains. Street food vendors still serve up fragrant bowls of kuy teav and sizzling skewers of beef on the roadside, and the call of the tuk-tuk is as constant as ever, though now, your driver might offer you a QR code to pay for the ride.

Fintech: Tradition Meets Transformation

What I find most striking, however, is how much the fintech landscape has evolved. Cambodia is rapidly emerging as a regional fintech powerhouse. I see that the government and National Bank through its Governor H.E Dr Serey Chea are actively promoting digital finance, cross-border payment connectivity, and financial inclusion. The Fintech Revolution Summit 2025, which will be held on 9th May is a testament to this momentum. Its main aim is drawing industry leaders from across Southeast Asia to discuss everything from digital payments to blockchain and financial inclusion.

Digital solutions are no longer the preserve of the urban elite. QR payments are everywhere: from the street-side coconut vendor to the tuk-tuk driver, everyone is embracing cashless transactions. The adoption rate of cashless payments jumped from 40% to 68% in just a year, and the cross-border QR payment system with Thailand such as ABA banks digital payment solution. The ever popular True Money app alongside PromptPay is making transactions seamless for locals and tourists alike. It’s not uncommon to see a street seller whip out a smartphone (unlike users in Africa still reliant on USSD applications) and present a QR code, or a tuk-tuk driver accept payment via mobile app—Cambodia’s digital leap is as grassroots as it is top-down.

Banking: From Brick-and-Mortar to Digital First

What I find amazing is that a country that has been through some horrible atrocities in the past, its drive and ambition is not lacking. Cambodia’s banking scene is equally remarkable for a country with a population of around 17 million. There are over 60 banks, and these institutions are racing to reinvent themselves for the digital age. At events like Temenos Connect, the message was clear: banks are moving from traditional, paper-heavy processes to cloud-native, customer-focused digital solutions. The sector is leveraging AI, mobile banking, and modular solutions to reach more Cambodians in both cities and rural areas, drive financial inclusion, and personalise services.

Grab: A Model for Local Diversity

What can I say – no write-up about Cambodia’s digital transformation would be complete without mentioning Grab. The superapp has successfully localised its model, merging with homegrown platforms like Nham24 to create a seamless ecosystem for ride-hailing, food delivery, and digital payments. Grab’s partnership with local developers and investment in urban mobility solutions, like its  recent collaboration to enhance transport in Koh Pich, demonstrates a keen understanding of Cambodia’s diversity and urban growth. Whether you’re ordering a meal, booking a ride be it Garb Bike, Tuktuk or the normal taxi service, or paying a bill, Grab and its local partners have made digital convenience accessible to all.

Xprizo: Laying the Groundwork in Cambodia

Over the past 12 months, I have been actively exploring potential collaborations with local fintech innovators and established banking solutions in Cambodia and Thailand. During my recent visit, I had the opportunity to engage with some of the country’s heavyweight industry leaders, forging valuable connections that could shape Xprizo’s future presence in the region.

The trip was also another important milestone for our agency network. I successfully recruited a Country Agent Manager with Cambodian Fintech and Payments experience, a key step in building our on-the-ground presence and ensuring that when Xprizo does launch, we’ll be ready to serve Cambodia’s diverse and rapidly digitising financial landscape. Our focus remains on understanding the unique needs of Cambodians, from street vendors to tuk-tuk drivers and ensuring our future solutions will integrate seamlessly with the country’s evolving digital ecosystem.

Final Thoughts

Firstly, I would like to first say thank you Cambodia. Stay strong and keep doing what you are doing and secondly that for me Cambodia in 2025 is a country in a dynamic transitional mode. The heat, the storms, the irresistible street food, and the ever-present tuk-tuks are all still here, but so is a new digital rhythm, one that pulses from the city center to the smallest market stall. Bringing Xprizo to Cambodia is an immense opportunity. To be part of a fintech revolution that’s as much about tradition as it is about technology, and as much about inclusion as it is about innovation.

Final word from me: if you ever find yourself in Phnom Penh in April, bring an umbrella, a sense of adventure, and a QR-enabled phone download our App, you’ll need all four.

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Excited about Xprizo’s potential to revolutionise access to financial services in underserved communities? Contact us to learn more about our innovative fintech platform. Click here to explore collaboration opportunities with Xprizo.