Cambodian lender Acleda Bank has partnered with China’s UnionPay International (UPI) to issue contactless debit cards.
The move builds on the existing partnership between Acleda Bank and UPI on payment services.
The new contactless debit cards will be offered through UPI’s Travel Mate.Asia programme. The programme is designed to offer unique preferential services to the residents and visitors in Asia.
It will provide the Acleda Bank contactless debit card holders with more preferential payment services, benefits, and offers for daily purchases and international trips.
Acleda Bank president and group managing director IN Channy said: “For more than eight years UnionPay has cooperated with Acleda as a strategic partner in world-class payment service solutions for its customers.
“Now we are working on the Contactless Debit Card to enhance our extensive product line to offer our customers more choices, to broadly expand their payment quickly, conveniently and securely.”
In Cambodia, UnionPay cards can be used at more than 80% of the ATMs and 90% of the POS terminals. It issues UnionPay cards through seven Cambodian banks.
UPI general manager for Southeast Asia Wenhui Yang said: “UnionPay values its relationship with Acleda, and we see them as an important partner to grow our business in Cambodia.
“We are excited to expand our partnership to offer more relevant products for customers, as the Cambodian market continues to demonstrate its strong and consistent growth trajectory.”
UnionPay has enabled card acceptance across 174 countries by partnering with around 2,000 institutions.
Recently, it signed an agreement with Italian bank and card acquirer Banca Sella to boost UnionPay cards acceptance.
UPI also partnered with telecom company U Mobile to launch GoPayz e-wallet in Malaysia.