UnionPay International announced today its collaboration with Canadia Bank, the second largest bank in Cambodia in terms of asset, in issuing Travel Mate.Asia card. Previously, the Bank has enabled all of its ATMs and POS terminals to accept UnionPay, and now it begins to issue UnionPay cards. Mr. Shuan Ghaidan, Director of Products of UnionPay International and Mr. Danny Quah, CEO of Canadia Bank, attended the ceremony.

The localization of UnionPay in Southeast Asia is accelerating over the past few years. UnionPay is not only delivering payment services for cardholders visiting the region but also offering new payment options for the local residents. So far, more than 15 million UnionPay cards have been issued in the 10 ASEAN countries. Moreover, UnionPay International has developed the Travel Mate.Asia cards, a travel-themed card product to enhance its service for the particular group of cardholders. Taking advantage of UnionPay’s advantages in acceptance and service in Asia, and particularly designed for tourists and business travelers who often travel in Aisa, the card has been issued in Thailand, Myanmar, the Philippines, Malaysia and other countries and regions.

In Cambodia, UnionPay cards can be used at 80% of ATMs and 90% of POS terminals. Six banks in Cambodia have issued UnionPay card products including debit cards and credit cards. In the first 5 months this year, more than 60% of transactions with these cards occurred locally, proving that the UnionPay card has become an important payment method for the Cambodian residents. The card issued by Canadia Bank this time is a UnionPay chip debit card that can be conveniently used in the UnionPay network across 162 countries and regions. It also provides exclusive privileges in 20 major tourist destinations in Asia, covering fields of tourist attractions tickets, transportation, WiFi, lodging, dining, entertainment and shopping.

Mr. Ghaidan congratulates Canadia Bank on the launch of the UnionPay Debit Card. he said the long history of cooperation between both organizations has shown impressive results, especially in the card business. Together with Canadia Bank and local partners, we can now upgrade the payment infrastructure in Cambodia to roll out QR Code, Mobile Wallet , Virtual Card and other cutting edge payment solutions so that Cambodians may enjoy secure, reliable, and convenient cashless payment methods.

Mr. Quah said, 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.