PHNOM PENH: The National Bank of Cambodia (NBC) officially launched the Cambodian Shared Switch (CSS) system on July 4 in an effort to modernize payment systems as Cambodia’s economy develops.

Dr. Chea Serey, Deputy Governor of NBC launched the CSS initiative in a ceremony and said that customers will be able to conduct interbank payment transactions via CSS debit card on all ATMs and points of service.

Through CSS, customers at any member bank ATM will be able to make interbank transactions such as cash withdrawal, fund transfer, balance inquiry, account statement, quick payment services and so on with the current 40 member institutions.

The official launch of CSS will provide more options for customers to make payments across institutions, increase transparency of electronic payments, reduce money in circulation, increase efficiency in the use of financial resources, and contribute to the development of the digital economy in line with government policies and regional integration, underlined NBC.