BPC, a world-leading provider of payment solutions, is excited to announce the opening of a new office in Cambodia’s capital and financial centre, Phnom Penh. BPC with its regional headquarters in Singapore has decided to further expand its services to Cambodia by opening yet another local outpost in the Kingdom.
Peter Theunis, BPC Managing Director, answered several key questions on the company’s reasons for its expansion programme:
Q: What is your history with Cambodia as a vendor?
A: Our history in the Asia Pacific region (APAC) region began in 2006, with the first acquisition of a major client in the region. Since then we have been successfully expanding regionally with our Smartvista solutions. In 2012, BPC entered Cambodia by winning a tier-1 client.
In less than seven years, BPC has become a dominant solutions provider of payments and digital banking solutions in Cambodia. The company is committed to hold this position and boost its client base in the years ahead by providing better, faster and more efficient servicing of local clients by employing local teams. Currently we service 11 financial institutions in Cambodia.
The new office will be located at: No. 315, Street 110, Corner of Street 93, Canadia Tower, Phnom Penh, 12202, Cambodia.
Q: What made your entrance and presence in APAC and Cambodia so successful?
A: At BPC, we believe in tackling real life issues with digital solutions, which begins with understanding what issues are preventing people and businesses from progressing and expanding their businesses. With this in mind, we entered the APAC region in 2006 and now we are present in 17 countries with more than 45 clients spread over the region, with a majority of them being in Cambodia.
The Southeast Asian market is one of the growth areas for financial services. Today, many people are ‘unbanked’ so most banks are involved in financial inclusion and digital banking. BPC’s Smartvista platform is supporting the ambitions of the banks in the region and is therefore very successful in this area of the world.
Q: How do you see the future of BPC in Cambodia?
A: Cambodia is a high growth market where there is a lot of potential for traditional banking, financial inclusion and added-value services. Today, one-third of the banks are a client of BPC. We believe that we can increase our market share to more than 50 per cent but also believe that we can make more impact in the daily lives of ordinary Cambodian citizens.
We believe that in partnership with the local banks we can launch marketplaces for different groups in society. And this covers industries from agriculture, SME’s to fast moving consumer market goods. Implementing these marketplace solutions will not only create an impact for the bank but in the daily life of the peoples of Cambodia.
Q: What were the reasons for opening this new office?
A: Over the last 10 years, our business was run centrally from Singapore. This hub gave us the opportunity to grow the overall business in the region.
Step-by-step, BPC gained clients in more countries. This made us a leader in the South Eastern Market.
Today, we see that banks have an increasing need for localization. This means local experts that know the market and local support in order to respond quicker to market demands. BPC showed commitment towards their customers and therefore we are excited to open this office in Phnom Penh. Furthermore, BPC is committed to support and open up the local population to opportunities that will boost financial inclusion in the region.
Q: How did you highlight this important milestone in BPC history?
A: We care for our clients’ interest and support and wanted to share with them that important moment of opening a new office in a country that is valuable to us.
On the 20th of August, BPC held a session in the Sofitel Hotel in the heart of Cambodia, Phnom Penh, to discuss our ambitions, plans, changes, local delivery and support capabilities. We were excited to share this moment with most of our clients from the country. Anatoly Loginov, President & CEO of BPC, launched our new endeavor by cutting the red ribbon, pinpointing the moment of a new, positive changes for BPC.
BPC was founded 20 years ago and as true ‘globetrotter in fintech’ it is now active in 81 countries. For more than 220 clients, BPC powers payments across the globe by supplying software and creating ecosystems in which banks, processors, merchants and other ecosystem players, such as governments, can thrive.
BPC is bridging real life with the digital economy. Banking, Payments: Context – this is what and who we are about at BPC. It is all about creating relevant services for the customers of our clients, fitting in the context of their business or daily life.
Peter Theunis, Managing Director at BPC: [email protected]