Prasac Uses TrazWare Services

KHMER TIMES
SUM MANET

Prasac, the Kingdom’s largest microfinance institution. Supplied

Prasac, the Kingdom’s largest microfinance institution, announced yesterday that it had successfully launched internet and mobile banking services using TranzWare from Compass Plus.

Compass Plus is a global company that provides integrated payment and retail banking software to payment service providers and financial institutions to make online payments easier and safer.

“Prasac customers can now transfer money between their accounts, pay bills, top-up their mobile phones, manage their cards, check their balances and get a mini-statement by logging on to their internet banking and mobile banking services,” said the Prasac press release.

“They can also send payments to other individuals and business partners,” added the release.

According to Prasac, in the first half of the year more than 375,000 transactions were made using TranzWare services.

“By introducing remote banking services, we have made banking transactions even easier for our customers as they no longer need to waste time waiting at the counters to settle any payment. It’s secure, convenient and reliable,” said Say Sony, chief marketing manager of Prasac.

Prasac has also introduced a cash-by-code service that enables its account holders to transfer money to non-ATM card customers.

“Our cash-by-code service has enabled customers to make payments easily, whether it is parents sending tuition fees to children or children sending cash back to parents. There is no longer a concern about whether the receiver has a card or bank account,” said Mr. Sony.

Prasac has one of the largest branch and ATM networks in Cambodia and provides a full range of financial services to its customers, including deposits, loans, internet banking, ATMs, bill payment, money transfer, foreign exchange, payroll, and mobile top-up.

Recently, it received approval from the National Bank of Cambodia to increase its registered share capital from $72 million last year to $110 million this year.