Vattanac Bank, a leading Bank in Cambodia announced a partnership with global payments network EMQ, to facilitate real-time cross-border payments across Asia, with more markets in the pipeline. By integrating with EMQ’s API-enabled payments platform, Vattanac Bank can further expand to new geographies and provide their customers with multi-currency payout to mobile wallets, bank accounts or cash pickup in the region.
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“Our customers are at the core of our business and we are always looking for ways to improve our services that enable them to seamlessly transfer funds with prompt payout in local currencies to meet their needs,” said Chan Kok Choy, CEO, Vattanac Bank. “The speed and scale of EMQ’s global network allows us to deliver a more convenient, cost-effective and secure payment experience for our customers. We are excited to partner with EMQ to expand our services in more markets beyond Cambodia.”
Powered by EMQ’s real-time payments network and Vattanac Bank’s capabilities, customers in Cambodia will be able to make instant or same-day fund transfers to Singapore, Malaysia, Indonesia, Vietnam, Thailand and the Philippines, while enjoying multiple payout options including mobile wallets, bank accounts, and cash pickup. EMQ’s integrated payments platform enables financial institutions and enterprises to build flexible solutions that support multiple use cases and can reach a variety of payment endpoints from anywhere in the world through a single EMQ Connect API integration.
“Simplifying cross-border payments for our customers has always been a key focus for EMQ as we continue to enhance our real-time payment capabilities that help businesses improve efficiency and optimize their working capital,” said Max Liu, co-founder and CEO of EMQ. “We are committed to helping Vattanac Bank in its ongoing transformation journey as it strives to address evolving customer needs and build the next generation of banking experiences.”
EMQ’s real-time payments capabilities span across Europe (Sepa Zone), Hong Kong, China, Thailand, Singapore, South Korea, India, Indonesia, Cambodia, Vietnam, Nepal, Pakistan, Philippines, the United Kingdom, and 19 markets in Africa, with expansion underway in the United States, Canada and Latin America. The company is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada.
About Vattanac Bank
Vattanac Bank is a Cambodian owned bank with a mission to conduct business operations with honesty, integrity, efficiency and accountability to its stakeholders. Vattanac Bank ensures sustainable, safe and healthy growth and aims to be regarded as a strong and secure financial institution. The Bank commenced operations on 8 November 2002 and has 30 branches as of March 2022 – 13 in Phnom Penh and 17 in the provinces, offering both retail and commercial banking services.