Cambodia’s Sathapana Bank Taps OpenWay for Credit Card Launchby Fintech News Singapore November 20, 2023
Cambodia’s Sathapana Bank has launched new Mastercard credit cards following its successful migration to the Way4 digital payment software platform, a move that consolidates various payment systems into a single infrastructure.
Powered by payments software provider OpenWay, this move enhances the bank’s operational capabilities and provides a range of benefits to its customers, including global acceptance and special offers.
The Way4 platform offers comprehensive online payment processing features and a flexible, rules-based, digital-first approach.
This has enabled Sathapana Bank to rapidly introduce its Mastercard credit cards, offering Cambodian consumers access to over 90 million merchants worldwide, along with cashback rewards and special deals from numerous e-commerce and in-store vendors in the country.
It took 6 months to integrate the bank’s previously fragmented payment systems, inherited from two financial institutions, into the single Way4 system.
The bank’s transition has streamlined its operations as well as doubled its card issuing business and expanded its merchant acquiring capabilities.
Sathapana Bank serves 25% of all Cambodian businesses, including micro, small, and medium enterprises as well as large corporations.
Fung Kai Jin, CEO of Sathapana Bank said,
“We selected OpenWay because we need a reliable and secure payment technology partner with strong experience and customer support.
This is essential to pursue our digital payment ambitions and deliver on our promise to deliver everyday banking convenience to our customers.”
Rudy Gunawan, Managing Director of OpenWay Asia said,
“We are grateful to Sathapana Bank for their trust and proud to partner with them in delivering the best payment products to their customers.
We are committed to continually providing the highest standards of financial services to our clients.”