PayGate announced that it has signed an agreement with the Korea Trade-Investment Promotion Agency (KOTRA) on April 1st to open its Cambodia Branch at KOTRA’s trade building in Phnom Penh.
Opening up a branch at KOTRA’s trade building can help a company grow its business locally, and has helped several companies with market researches, and managing partnerships with local companies.
With its branch in Phnom Penh, PayGate now plans to launch its own banking platform, called Seyfert, which has been optimized for the Cambodian market. PayGate is also engaged in a partnership with ACLEDA Bank Plc, a local bank in Cambodia.
So Yeong Park, CEO and co-founder of PayGate, said:
“We are greatful for this opportunity to serve Cambodian’s finance industry with our advanced platform, and I believe our Partnership with KOTRA also inspires other Korean Fin-tech companies to expand their businesses globally.”
PayGate has been approved by the Ministry of Strategy and Finance on the 17th of July as a foreign exchange business handling institution, and has been registered as a Currency Exchange in October 2014.
|▲Seyfert Banking Platform BI
Paygate is focusing on delivering Seyfert Platform to South Korea for all available Fintech and alternative finance business candidates like P2P lending, crowd funding, and internet banking corporation.