Digital payments on the rise as Cambodians shift away from cash – Visa Study



Visa, the world’s leader in digital payments, has today released findings from its latest Visa Consumer Payment Attitudes study1, showing that as many as 32 percent of Cambodians plan to stop using cash following the COVID-19 pandemic. This follows a spectacular shift from cash to digital and contactless payments, especially QR codes and e-wallets.

The pandemic has accelerated the adoption of digital payments among Cambodian consumers as they believe going cashless will make society more hygienic (43%), efficient (39%) and environmentally friendly (37%).

Ms. Monika Chum, Visa Country Manager for Cambodia said: “We are well on our way towards a generational change in how Cambodians choose to pay and be paid, with a growing preference for digital payments. At Visa, we are keeping a close eye on how this conversion to cashless plays out, using our market insights to support our local partners by rolling out smarter, faster and safer forms of digital payments.”

Since COVID-19, cash usage dropped 22 percent in the past year. One in five Cambodian consumers has tried going cashless, with almost half of them (46%) claiming they could go for longer than a week. Of those who have not tried going cashless, 29 percent are confident they could last for a month or longer by relying on cashless alternatives.

The study also showed an accelerated adoption of cashless and digital payments, especially cards and QR codes. Thirty-eight percent of Cambodians now use card payments and almost 7 out of 10 consumers (68%) who have both e-wallets and cards show a preference for the latter. Meanwhile, QR payment usage tripled over year with 36 percent of consumers in Cambodia now using it. QR payment is the second-most-popular payment form in all spending categories, especially in supermarket and convenience store purchases.

Consumers are also showing a clear preference for mobile applications where they can access greater choice and integrated payment features. Digital banking has also caught up with traditional banking as 60 percent of consumers now install mobile banking apps, appreciating the security of mobile payments (51%) and the health benefits associated with reduced physical contact (50%).

“Consumers believe Cambodia will become a cashless society within the next 10 years, regardless of the impacts of COVID-19,” added Ms. Monika Chum. “Visa is excited to support businesses and consumers in embracing this transformation with world-leading payment services and market insights to help them adapt and overcome.”



1 The Visa Consumer Payment Attitudes Study was prepared by CLEAR in Aug-Sep 2021, surveyed amongst 6,520 consumers in Singapore, Philippines, Malaysia, Indonesia, Thailand, Vietnam, and Cambodia.


About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at