Cambodia Investment Review

Canadia Bank Partners With AsiaPay For Digital Payment Gateway Services

Canadia Bank Partners With AsiaPay For Digital Payment Gateway Services

Cambodia Investment Review

Canadia Bank, a long-established and leading commercial bank in Cambodia, has announced its collaborative partnership with AsiaPay by signing a Memorandum of Understanding (MoU) on June 22, 2023. AsiaPay is a leading digital payment service, solution, and technology provider in Asia. Under this partnership, Canadia Bank and AsiaPay will provide digital payment solutions to businesses and merchant partners seeking for reliable and efficient payment aggregation and gateway services.

Canadia Bank is always seeking innovative ways to help its merchant partners improve their existing business processes for sustainable growth. In line with this, Canadia Bank is working with various local and international partners to enrich the solutions of its current payment ecosystem. Through partnering with AsiaPay, a regional trusted payment service provider, Canadia Bank aims to provide smoother integrated payment processing and payment gateway solutions to its merchant partners.

Mr. Howard Lau, Canadia Bank’s CIO and Mr. Terrance Chow, AsiaPay’s Associate Director Sales & Business Development, signing the partnership agreement.

AsiaPay provides a comprehensive array of secured, advanced, and integrated payment processing solutions, including credit and debit cards and digital wallets. As part of the partnership, Canadia Bank and AsiaPay will work together to ensure that merchants will have a seamless onboarding experience when adopting new digital payment gateway solutions.

Mr. Howard Lau, Canadia Bank’s Chief Information Officer, believes in fostering win-win partnerships to further accelerate and expand the Bank’s digital transformation initiatives.

“At Canadia Bank, we continue to leverage technology, invest in digital initiatives, and seek innovative ideas for the customers’ convenience. We are delighted and excited to collaborate with AsiaPay to strengthen the digital payment capabilities of our merchant partners. In return, it will provide more convenience to the individual customers, who are the end users, as they will be able to pay in simple, secure, and convenient manner.” he said.

AsiaPay’s Chief Executive Officer, Mr. Joseph Chan said “We are very honored to partner with Canadia Bank to further enhancing our user experiences through innovative technology. This partnership is indeed a key milestone as we continue to offer our customers the opportunity to expand further into new emerging markets by offering the payment options that consumers in these markets prefer and trust.”

Canadia Bank Management and AsiaPay representatives at the MoU ceremony.

About Canadia Bank

Canadia Bank is a leading local and full-service commercial bank in Cambodia since 1991 and one of the largest commercial banks that holds commanding market shares in loans and deposits. In 2023, Canadia Bank was awarded “Best Retail Bank” by The Asian Banker and “The Best SME Bank” by the Digital Banker. The Bank has been recognized and awarded by The Asian Banker as “The Strongest Bank by Balance Sheet in Cambodia in 2019,” the “Best Managed Bank in 2022”, and “The Best Retail Bank” for 3 consecutive awarding years in 2020, 2021, and 2023.  

As of April 2023, Canadia Bank has 68 branches and more than 400 self-service digital devices across Cambodia, such as ATMs, Cash Recycling Machines, Virtual Teller Machines, and Smart Card-Issuing Machines. For more information, please visit our website, www.canadiabank.com.kh.

About AsiaPay

Founded in 2000, AsiaPay is a premier digital payment services, and technology player that strives to bring advanced, secure, integrated, and cost-effective digital payment processing solutions and services to banks, corporations, and e-Businesses around the world. We cover a suite of international credit cards, debit cards, prepaid cards, net banking, eWallet, QR codes, and cash collection.

Headquartered in Hong Kong, AsiaPay is also an accredited payment processor and payment gateway solution for banks with ISO certification and 3-D Secure vendors for Visa, MasterCard, American Express, and JCB. AsiaPay offers a variety of award-winning payment solutions. For more information, please visit our website, www.asiapay.com

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