ABA Bank and UnionPay collaborate to strengthen Cambodia’s payment system
Leading commercial bank in Cambodia, ABA Bank announces both a broadening and deepening of collaboration with UnionPay on merchant acquiring, the global payment network that serves the world’s largest card base.
In line with the changing payment habits of Cambodians, ABA Bank has deployed over 1,000 Contactless POS terminals at UnionPay merchants in Food & Beverage, Entertainment, and Shopping industries all over Cambodia. Some familiar merchant names include The Asian Kitchen, Bonchon, and The Pizza Company. ABA Bank is one of the largest card issuers in Cambodia and has been issuing UnionPay cards since 2015. ABA Bank has also been acquiring merchants for UnionPay since 2016 and is one of UnionPay’s biggest merchant acquirers in Cambodia.
In addition, ABA Bank has been deploying UnionPay-enabled Quick Response (QR) Code for payment at over 1,000 merchants in retail, food & beverage, entertainment and more verticals in the Kingdom. Popular names like Bayon Market, Circle K, Legend Cinema, Smart Shop, Tous Les Jours and Zando have been equipped with UnionPay QR Code for payment. This is on top of ABA Bank starting its acquiring services for UnionPay International on its PayWay online payment gateway in November 2019.
“We have seen Cambodians readily embraced innovative payment products like Contactless, Online payments and QR Code for payment over the past few years. UnionPay strives to provide payment products and services that cater to the changing payment needs of local customers and businesses. So we are very pleased to be able to both broaden and deepen our collaboration with a like-minded partner and leading player in digital finance like ABA Bank, to help accelerate Cambodia’s transition to a cashless society,” said Ms. Leang Chenda, Cambodia Country Manager, UnionPay International South East Asia.
UnionPay serves the world’s largest card base and has established itself in the Kingdom by continuously offering top-notch payment services to assist and ease the daily financial needs of its customer base. When it comes to QR Code deployment and development, UnionPay is the global leader among international payment networks, showing significant growth in acceptance here from 2019 to 2020 – an impressive increase of over 50% with coverage in major cities such as Phnom Penh, Siem Reap, and Sihanoukville.
The shift towards innovative payment services like Contactless, Online payments and QR Code for payment has become more pronounced during this pandemic, whereby there is more emphasis on personal hygiene, and reducing physical contact, especially when cash may carry bacteria, germs and viruses.
Mr. Sanzhar Abdullayev, ABA Bank’s Chief Card and E-payment Officer, said “The initiatives of deploying Contactless and UnionPay QR Code terminals at merchants will surely have a positive impact to the lives of our customers across Cambodia. We believe it will increase the adoption of modern finances and encourage more electronic payments, especially during the pandemic.”
About UnionPay International
UnionPay International (UPI) focuses on the international business of UnionPay. In partnership with over 2,400 institutions worldwide, UnionPay International has enabled card acceptance in 180 countries and regions with issuance in 70 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest Cardholder base and ensures convenient local services to a growing number of global UnionPay Cardholders and merchants.
In Southeast Asia, UPI has enabled ATM, POS acceptance and card issuance across all 10 countries. For more information, visit www.unionpayintl.com/en/.