27 July 2017
Phnom Penh, Cambodia – Canadia Bank announced today that it has officially launched its UnionPay Debit Card.
Company officials from Canadia Bank and UnionPay International (UPI), along with a number of Bank customers were on hand at Raffles Hotel Le Royal where Chief Executive Officer of Canadia Bank, Mr. Danny Quah, and Mr. Shuan Ghaidan, Director of Products of UnionPay International, made the official launch of UnionPay Debit card across Cambodia to meet the growing demand for advanced and more convenient payment services. Extending an already strong and lengthy cooperative relationship, the launch of the Canadia Bank UnionPay Debit Card further solidifies the relationship between the two financial services leaders. Strong recognized brands and extensive experience in financial services, Canadia Bank and UPI bring together and leverage their unique strengths and expertise to grow and develop card and payment services in the rapidly growing Cambodian market.
The Canadia Bank UnionPay Debit Card will allow customers to reduce the need to carry cash and instead make their purchases at over 42 MM POS machines in the UnionPay global acceptance network across 162 countries and regions. The card will also make it easier for customers to track and manage expenses, while at the same time offer greater control, security and convenience.
Mr. Shuan Ghaidan, Director of Products of UPI, said: “We congratulate Canadia Bank on the launch of the UnionPay Debit Card. The long history of cooperation between both organizations has shown impressive results, especially in the card business. The UnionPay chip card standard provides a robust platform to introduce innovative payment products and services. Together with Canadia Bank and local partners, we can upgrade the payment infrastructure of Cambodia to roll out QR Code for payment, Virtual Card, Mobile Wallet and other cutting edge payment solutions so that Cambodians may enjoy secure, reliable, and convenient payment methods of a cashless society.”
In addition, UnionPay’s chip card standard is widely adopted in the region by Laos, Myanmar, Thailand and six Asia-Pacific partners from the Asia Payment Network.
The Canadia Bank UnionPay Debit Card carries Travel Mate.Asia benefits, mainly designed for residents and visitors in Asia looking for unique preferential services. It provides Cardholders with exclusive access to travel resources and benefits from the top 20 Asian destinations ranging from selected attraction discounts, transportation, WIFI service, to merchant privileges within hotels, restaurants and shopping malls, making this UnionPay card a safe, convenient and preferred payment tool when traveling in Asia. Danny Quah, Chief Executive Officer of Canadia Bank commented, “The middle class in Cambodia continues to grow at a rapid rate, as does the level of sophistication with financial products. This growth has spurred demand for financial solutions that match their financial status. Canadia Bank’s longstanding relationship with a leading global card services company such as UnionPay International helps to ensure that we have the best card solutions to offer our customers.” He went on to say that, “we observe significantly more activity related to card products, including merchants that accept them. We expect this activity to increase and evolve, which makes our relationship with UnionPay International even more important, as we strive to offer the most competitive card solutions to our growing customer base.”
About Canadia Bank
Canadia Bank provides financial services to domestic and foreign companies. Established in 1991, is the leading commercial bank in Cambodia, with an extensive network of branches throughout the country. Strong reputation and proven financial success reflect Canadia Bank’s expertise and experience in commercial banking, and in-depth knowledge of the Cambodian market.
About UnionPay International
UnionPay International (UPI) focuses on the international business of UnionPay. In partnership with more than 1,500 institutions worldwide, UnionPay International has extended its card acceptance to 162 countries and regions globally with issuance in 42 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 localized services to a growing number of global UnionPay cardholders and merchants.