In order to shape and grow the e-commerce industry in Cambodia, the World Bridge International Group (WIG) will launch MAIO (My All In One) Mall under their recently founded subsidiary – WorldBridgE Commerce Co. Ltd. (WBC).
Set to go live sometime in 2015, the one-stop online shopping experience seeks to enter the market with innovative and unique solutions. “We want to help shape Cambodia in SE Asia into an online market hub and restore, in this way, the position Cambodia once held … We are sure Cambodia is ready for this breakthrough,” said Tomas Pokorny, CEO, WBC.
The large scale e-commerce site will allow users to shop, book tickets and hotel rooms, purchase services as well as conduct banking and financial (such as microfinance) operations. Rami Sharaf, CEO, WIG said about the Kingdom, “Cambodia [has had] phenomenal steady growth year over year into nearly the largest global emerging market.”
Armed in its suit are various corporate partnerships and strong banking. WIC is beginning this venture in hands with ACLEDA Bank, who will be handling the e-commerce site’s payments through debit and credit cards.
In Channy, group CEO, ACLEDA Bank, expressed his strong belief that the business will operate successfully, and help Cambodians kickstart their acceptance of such platforms. He noted that some elements of success are “sufficient human resource, commitment, good infrastructure and technologies in handling the online payments service”.
Pily Wong, Country Manager, Microsoft (Cambodia), emphasised that establishing a locally recognised and secure payments operator (such as ACLEDA) is crucial for building the people’s trust in online transactions.
However, he says that a huge obstacle for this industry in Cambodia is logistics. “Look overseas, you use eBay, and you receive by the post. Here, the post is an issue and the cost of transactions is also an issue, because at the moment e-commerce operators are forced to use overseas payments providers.”
The initiative to establish an e-commerce law is still underway, and its draft is awaiting approval. This would have a huge impact on ventures like MAIO Mall, giving them more power to implement e-commerce.
As of now, there are over 70 companies on board and more than 320 products in store. MAIO Mall will certainly be key in shaping the e-commerce industry in Cambodia, and its launch is in high anticipation.
For more information, visit WBC’s site here.