Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - After delay, Wing offers pre-paid Visa cards

After delay, Wing offers pre-paid Visa cards

Wing yesterday launched its first prepaid Visa card with the Foreign Trade Bank of Cambodia (FTB), almost six months after it was initially slated for release.

Wing, the mobile payment and money transfer company, is not allowed to issue its own Visa cards without collaboration from a financial institution.

The new prepaid cards, identifiable by their Angry Birds cartoon designs, were supposed to launch in August last year, but licensing issues set down by the banking regulator delayed the process, said Wing CEO Anthony Perkins in an email.

“That took a while to pull together, as we always saw a bigger relationship with FTB going forwards than just Visa cards,” he said. “Short term pain, long term gain I guess.”

The prepaid card can be used locally and overseas, anywhere Visa is offered. To top up, customers transfer funds from their accounts in Cambodia using mobile phones, or through direct deposits at one of the 1,000 Wing Cash Xpress outlets nationwide.

Driven by its domestic money transfer services, Wing posted transaction volume figures of $1.5 billion last year.

Perkins said the company is on track to post profits for the first time in its five-year history in 2014.

0

Comments

Please, login or register to post a comment

Latest Video

Civil parties react angrily at being turned away from the gates at the ECCC.

Anger toward Khmer Rouge tribunal

Protests directed toward proceedings at the Khmer Rouge tribunal from both inside the court and out on the first day of evidentiary hearings in Case 002/02.

Refugee protest

No refuge for Australian embassy

Cambodian protesters take to the streets again against the Abbott government's refugee deal with the Kingdom.

Sophan

Suy Sophan fronts commission

Property developer at the centre of the infamous Borei Keila mass forced evictions is called to answer questions about breach of contract in parliament.