Pi Pay

What Pi Pay does

Pi Pay is a Cambodia-based cashless payment platform combining a consumer-facing mobile app (iOS and Android) with merchant payment services and social/lifestyle features including chat, maps, and friend finder. The platform is built on third-party Core System infrastructure for secure transaction processing and serves four primary customer groups: Cambodian consumers (mobile payments, QR, money transfer, loyalty), merchants (POS systems, payment processing, analytics), financial institutions (payment gateways, MPOS, eWallet integration), and channel partners such as SmartLuy outlets (cash-in/out and wallet top-ups). Revenue is generated primarily from transaction fees on consumer and merchant payments, cash-in/out fees at agent outlets, merchant services, and in-app advertising for merchant promotions.

Pi Pay is licensed and regulated by the National Bank of Cambodia and integrates with the Bakong blockchain-based national payment infrastructure, giving it interoperability with banks, microfinance institutions, and cross-border QR corridors with Thailand, Malaysia, Vietnam, and China. It has built backend integrations with UnionPay (virtual card and QR), Alipay, WeChat Pay, and UPI for both domestic and overseas acceptance. The company is incorporated as Pi Pay Plc in the UK and is backed by a prominent Cambodian business conglomerate with diversified holdings in property, infrastructure, hospitality, power, and trading. Distribution runs through app stores, a direct merchant sales team deploying POS systems, and an agent network anchored by SmartLuy retail outlets in provinces including Kampong Chhnang and Siem Reap.

The business employs 51–100 staff and operates from a headquarters at Pi Pay Tower in Phnom Penh. Leadership includes co-founder and CEO Tomas Pokorny and co-founder and Chief Imagineer Tommy Lim. The platform is PCI-DSS and EMV compliant with 256-bit AES encryption and has scaled to an estimated 500,000+ users with 51 million+ projected financial transactions in its third year of operation, reflecting Cambodia's position as ASEAN's fastest growing e-commerce economy.

Name

Pi Pay

Legal name

Pi Pay Plc

Website

https://pipay.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Pi Pay is Cambodia's cashless payment platform offering a consumer mobile app with social features and merchant POS/payment processing. It serves Cambodian consumers, merchants, banks, and channel partners via UnionPay, Bakong, and SmartLuy distribution, licensed by the National Bank of Cambodia.

Ownership category

akta.pro rank

Product category

Mobile Payment Platform

akta.pro primary industry

Alternative Payment Method (APM) Acquiring (e.g., BNPL, wallets, local methods) (FSAMABAL)

akta.pro secondary industry

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)

Keywords

• Mobile payments
• Digital wallet
• Payment processing
• Cashless payments
• Merchant services

Headquarters

HQ city

Phnom Penh

HQ country

Cambodia

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction Processing Fees: Pi Pay earns revenue from transaction fees on payments processed through its platform for merchants and customers.
2. Cash In/Out Fees: Channel partners and agents generate revenue from user fees charged for cash in/out services and account upgrades.
3. Merchant Services: Revenue generated from merchant payment services including POS systems and promotional channels.
4. In-App Advertising: In-app advertising opportunities for merchants to send messages, announcements, and special promotions to users.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

Pi Pay operates a mobile payment platform in Cambodia that enables consumers to make cashless payments, transfer money, pay bills, and access a UnionPay-branded debit card linked to their wallet. The platform also provides merchants with POS payment acceptance tools and operates the SmartLuy cash agent network for cash-in and cash-out services across Cambodia.

Product overview

Pi Pay is a comprehensive cashless payment platform for Cambodia consisting of a consumer-facing mobile app as the core product, paired with UnionPay-branded physical and virtual cards for in-person and online payments. The platform integrates social and lifestyle features (chat, maps, friend finder) with merchant payment services, money transfers, and loyalty programs. Merchant-facing offerings include POS systems, payment gateways, and agent network services (SmartLuy) for cash-in/out operations. The ecosystem connects to various payment networks including UnionPay, Alipay, WeChat Pay, UPI, and the National Bank of Cambodia's Bakong blockchain system for cross-border transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• Pi Pay Mobile App Consumer mobile wallet application that enables Cambodian users to make cashless QR-code payments, transfer money, pay bills, and access in-app features such as chat, maps, and friend finder. Available via Apple App Store and Google Play.
• Pi Pay Physical Card (UnionPay-branded) UnionPay-branded physical debit card linked to a user's Pi Pay wallet, enabling card-based spending at domestic and international UnionPay-accepting merchants and ATMs.
• Pi Pay UnionPay Virtual Card Virtual UnionPay-branded card linked to a Pi Pay wallet, designed for online and in-app purchases without a physical card.
• Pi Pay Merchant POS Systems Point-of-sale hardware deployed to Cambodian merchants (dining, entertainment, retail) to accept Pi Pay wallet payments via QR codes and card acceptance, with settlement into merchant accounts.
• Pi Pay Merchant Services End-to-end merchant payment acceptance service from Pi Pay, covering onboarding, POS deployment or QR acceptance, transaction processing, and settlement for Cambodian merchants.
• SmartLuy Cash Agent Network Pi Pay's branded cash agent network (SmartLuy) that lets local Cambodian entrepreneurs and shop owners serve as neighborhood points for users to convert cash to Pi Pay wallet balance and vice versa.

Quantifiable outcome

• Estimated 500,000+ users with 51 million+ financial transactions projected in third year of operation

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature9 records

Partnerships

Five partnerships are on record, tiered core and major.

• Core System (State-of-the-Art Vendor)coreTechnology or IntegrationCore System is described as a global leader in secure online and mobile transaction solutions. They provide the core system infrastructure that handles all client deposit and merchant payment monies with global standard reconciliation services.
• UnionPay InternationalcoreTechnology or IntegrationUnionPay International enables Pi Pay UnionPay Virtual Card functionality for domestic and overseas online transactions, as well as UnionPay QR Code scanning for payments at UnionPay accepted merchants in Cambodia and internationally.
• National Bank of CambodiacoreStrategic or Co-development PartnerPi Pay is licensed and regulated by the National Bank of Cambodia, bringing compliance and transparency to operations. The National Bank of Cambodia's Bakong System is a blockchain-based payment infrastructure connecting banks, microfinance institutions, and payment service providers.
• Bakong SystemcoreTechnology or IntegrationThe National Bank of Cambodia's Bakong System is a blockchain-based payment infrastructure that has become a cornerstone of Cambodia's fintech ecosystem, connecting banks, microfinance institutions, and payment service providers. It supports QR-based payments and cross-border integrations with Thailand, Malaysia, Vietnam, and China.
• SmartLuymajorChannel Partner/ Reseller/ DistributorSmartLuy is a telecommunications company in Cambodia operating a network of retail outlets used as agent points for Pi Pay services. Agent Network Executives recruit and train agents at SmartLuy outlets, providing cash-in/out services and wallet top-ups.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Cellcard Money: Cellcard Money is the mobile wallet of Cambodian telco Cellcard (CamGSM), offering payments, transfers, and merchant services. As a telco-led wallet, it is a direct competitor in Cambodia with strong mobile distribution.
• Wing Bank (Wing): Wing is one of Cambodia's largest mobile wallet and digital payment operators, offering consumer wallets, merchant payments, and an extensive agent network. It is the most direct head-to-head competitor to Pi Pay in Cambodian consumer and merchant payments.
• PayGo Cambodia: PayGo operates a mobile wallet and bill payment service in Cambodia with a retail/agent network. It is a comparable domestic payment and wallet platform competing for the same Cambodian consumer and small-merchant base.
• TrueMoney Cambodia: TrueMoney is a regional Southeast Asian mobile wallet from Ascend Money (CP Group) operating in Cambodia with cash-in/out agents and merchant payments. It is a directly comparable consumer wallet in Pi Pay's home market.
• Ly Hour Pay (Ly Hour Group): Ly Hour Pay is a Cambodian mobile wallet and payment app from Ly Hour Group, offering QR payments, money transfers, and bill pay. It competes with Pi Pay in the same domestic consumer wallet category.

Broad incumbents

• WeChat Pay: WeChat Pay is a major global wallet from Tencent, already integrated with Pi Pay's backend and broadly accepted via Bakong cross-border QR. It is a broad incumbent that could limit Pi Pay's pricing power and consumer mindshare in Cambodia.
• UnionPay International: UnionPay is one of the world's largest card networks and a core partner of Pi Pay, providing physical/virtual card and QR acceptance. As a broad incumbent, it both enables and threatens Pi Pay by controlling the international acceptance layer Pi Pay relies on.
• ABA Pay (ABA Bank): ABA is Cambodia's largest bank and operates ABA Pay, a card and QR-based payment service with deep merchant acceptance. It is a bank-led incumbent in the same Cambodian payments space, offering overlapping wallet and POS capabilities at greater scale.
• Alipay: Alipay is a global wallet from Ant Group, integrated with Pi Pay's platform and accessible in Cambodia through Bakong. As a broad incumbent with deep Chinese tourist and cross-border flows, it constrains Pi Pay's ability to capture international and tourist spending.
• ACLEDA Bank (Mobile Banking): ACLEDA is one of Cambodia's largest commercial banks and MFIs, with a mobile banking and payment app used by consumers and merchants. As a bank-led incumbent, it competes with Pi Pay on payment accounts, transfers, and merchant acquiring.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/pipaycambodia
• Facebookfacebook.com/pipayapp
• LinkedInlinkedin.com/company/pipay

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pi Pay