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ABA, UnionPay team up on merchant acquiring

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ABA Bank on July 7 announced a collaboration on merchant acquiring with UnionPay, the global payment network that serves the world’s largest card base. Heng Chivoan

ABA, UnionPay team up on merchant acquiring

ABA Bank on July 7 announced a collaboration on merchant acquiring with UnionPay, the global payment network that serves the world’s largest card base.

ABA Bank said it has been issuing UnionPay cards since 2015, and acquiring merchants for UnionPay since 2016, as one of the payments brand’s biggest merchant acquirers in Cambodia.

The bank said it started its acquiring services for UnionPay International on its PayWay online payment gateway in November 2019.

UnionPay International South East Asia country manager for Cambodia Leang Chenda said she has seen Cambodians readily embrace innovative payment solutions via contactless, online and QR Code-based systems over the past few years.

Meanwhile, she said, UnionPay strives to provide payment products and services that cater to the changing payment needs of local customers and businesses.

“We are very pleased to be able to both broaden and deepen our collaboration with a like-minded partner and leading player in digital finance like ABA Bank, to help accelerate Cambodia’s transition to a cashless society,” Chenda said.

ABA Bank chief card and e-payment officer Sanzhar Abdullayev said deploying contactless and UnionPay QR Code terminals at merchants will surely have a positive impact to the lives of customers across Cambodia.

“We believe it will increase the adoption of modern finances and encourage more electronic payments, especially during the pandemic,” he said.

In line with the changing payment habits of Cambodians, ABA Bank said it has deployed over 1,000 contactless point-of-sale (POS) terminals at UnionPay merchants nationwide.

The bank added that it has been deploying UnionPay-enabled QR Codes for payment at over 1,000 merchants in the Kingdom.

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