ABA Bank partners with PTT Cambodia, offers innovative payment solutions
29/Apr/2024
ABA Bank, Cambodia’s largest commercial bank and leading digital finances provider, announced its partnership with PTT (Cambodia) Ltd. to introduce ERP-based payment solutions.
This innovative solution leverages H2H (Host-to-Host) integration to seamlessly connect PTT's internal systems with ABA's banking system, enabling PTT to efficiently collect payments from its dealers, distributors, and customers.
The official signing ceremony occurred on 29 April 2024 at ABA Bank's Head Office in Phnom Penh. The ceremony was graced by the presence of Askhat Azhikhanov, CEO of ABA Bank, Nuttapong Kaewtrakulpong, Managing Director of PTT Cambodia, and other senior management representatives from both entities.
“We are delighted to partner with PTT Cambodia to offer this customized Direct Debit solution,” said Askhat Azhikhanov, CEO of ABA Bank. “The solution is designed to meet PTT's specific business needs, streamlining their payment collection process and ensuring timely payments from their customers.”
The ABA Direct Debit payment solution simplifies business-to-business (B2B) and business-to-customer (B2C) payment collection by allowing companies to electronically withdraw funds directly from their customers' accounts on pre-arranged due dates. It eliminates the need for manual payment collections, minimizes paperwork, and ensures timely settlement, ultimately improving cash flow predictability and efficiency for businesses of all sizes.
“This partnership signifies PTT Cambodia’s commitment to providing our partners with convenient and efficient payment options,” commented Nuttapong Kaewtrakulpong, Managing Director of PTT Cambodia. “The ABA Direct Debit solution will significantly enhance our cash flow management and improve operational efficiency.”
The collaboration between ABA Bank and PTT Cambodia signifies a remarkable leap forward in streamlining payment collections within Cambodia's business landscape. With this innovative solution in place, PTT Cambodia is well-positioned to enhance its overall business efficiency and solidify its position as a leader in the Cambodian market.
PTT (Cambodia) LTD (PTTCL) is a Thailand-based petroleum company that operates oil and retail business in Cambodia. PTTCL supplies, distributes and markets petroleum and related products. In addition to petroleum business, PTTCL’s retail businesses include Café Amazon, 7-Eleven Mart, Jiffy Mart, and EV Station PluZ. PTT has gradually expanded its businesses and become one of the top-of-mind brand in Cambodia with its well-earned reputation of good services, quality, and safety standard. With the vision of “Betterment for Cambodian Community and Lifestyles”, PTT aims to strengthen energy solutions for seamless mobility and strives to be a one-stop solution for all lifestyles in Cambodia.
