The National Bank of Cambodia (NBC) has warned the public to exercise caution regarding online scams, following recent promotions of an app called PAI or PaiPay on the Telegram platform. The app reportedly allows users to create a wallet, deposit funds, transfer money and make payments — without being regulated by any authority.
The app appears to be an attempt to piggyback on the success of Pi Pay, a licensed payment service, which is registered with the national bank.
According to an NBC announcement on the evening of March 25, the central bank has observed that the PAI or PaiPay app is operated via Telegram as a chatbot and is available for download on the App Store and Google Play Store. The app provides services such as wallet creation, deposits, transfers and payments, but lacks proper oversight from competent authorities.
NBC added that advertisements promoting PAI or PaiPay have been circulating widely on Telegram and have also appeared in Phnom Penh and Preah Sihanouk province.
“The National Bank of Cambodia confirms that the PAI or PaiPay app is not a mobile payment service operated by any institution licensed by the NBC. Therefore, the public is advised to remain highly vigilant against online scams that may expose them to risks,” said the NBC statement.
The NBC said it is cooperating with relevant authorities to investigate the illegal promotion of this application.
Pi Pay PLC. clarified via its official social media that it is a licensed Payment Service Provider regulated by the NBC, and operates strictly in compliance with Cambodian laws and regulations. Pi Pay Plc owns the registered trademark rights for the “Pi Pay” brand.
“We would also like to express our appreciation to the National Bank of Cambodia for its continued efforts in maintaining transparency, protecting consumers and taking action against unlicensed or misleading financial service operators,” it said.
