Receive online payments in Cambodia with iPay88
When it comes to digital payment providers in Cambodia, there are many options and combinations which make it challenging to come to a good decision for your business:
- Does the provider support the most important payment methods like credit cards, e-wallets and bank accounts?
- What are the costs for implementation and transactions?
- Does my business or NGO meet the criteria for setting up a merchant account?
- How complicated is the registration process and paperwork?
At Geekho, we regularly help new customers for our payment integration solution GetLoy with answering these questions and picking the payment provider or providers that best solve their payment needs.
One very interesting payment provider and valued partner of Geekho is iPay88.
iPay88 is operating in six countries across Southeast Asia. In 2019, they are expecting to process over 100 million transactions totalling over 3 billion US Dollars. iPay88 is a subsidiary of NTT Data Corporation based in Japan. The Cambodian branch iPay88 (Cambodia) Plc was incorporated in 2016 and is registered with the National Bank of Cambodia as a Payment Service Institution. They have an office and team in Phnom Penh.
Why use iPay88?
They boast the the largest number of supported payment methods of all Cambodian payment providers (and they are working on adding even more):
- Debit/credit cards for international payments
- Various Cambodian e-wallets like Pi Pay and Wing
- AliPay for payments from China
- Bank transfer from Acleda bank
Cheaper transactions for e-wallets and bank transfers: iPay88 merchants can benefit from some serious discounts – signing up with iPay88 will give you better prices than signing up directly with some payment providers (for example, Pi Pay charges 2% for online transactions vs. 1.5% for Pi Pay via iPay88).
Startup-friendly and fast sign-up: businesses can already sign up for iPay88 while their business registration is still being processed at the Ministry of Commerce, and iPay88 processes applications in 3-5 working days. This allows startups to accept payments much sooner than with other payment providers – PayWay for example requires businesses to be registered for 6 months to qualify as merchants.
As a result of the partnership between Geekho and iPay88, you will get a 50% discount on your GetLoy subscription fee for the first year when you sign up for iPay88 through Geekho.
iPay88 integrated with GetLoy is also the first payment service in Cambodia that allows you to test the integration on your own website before you buy.
iPay88 is also available for non-profits – NGOs that have been registered for at least 1 year can sign up as well to receive online donations directly to their bank Cambodian bank account.
How can you get iPay88?
- Fill out the GetLoy sign up form to get your iPay88 merchant application package
- Submit your merchant application online
- Bring the original documents to Geekho's office in Siem Reap or iPay88's office in Phnom Penh
- iPay88 will process the merchant application in 3-5 days
iPay88 charges transaction fees of 3.5% for debit/credit card transactions, 2.5% for online banking transfers and 1.5% for e-wallets. In addition, there is a one-time setup fee of $300 and an annual maintenance fee of $180 for accounts with a shared Merchant ID (MID). Geekho charges $49/year for the GetLoy subscription, and offers a 50% discount for the first year if the merchant signs up for iPay88 through Geekho.