Electronic Payment Deal Sealed

KHMER TIMES
SOK CHAN

IDEALINK managing director Chhor Sophanak (left) and Wirecard NZ managing director Andreas Kazamias.

IDEALINK has become a distributor for Wirecard NZ payment solutions and electronic payment systems in Cambodia, Laos, Myanmar and Vietnam after both companies signed a strategic distribution agreement on Saturday.

The deal also covers Wirecard’s card management system, mobile money and alternative payments.

IDEALINK managing director Chhor Sophanak said Cambodia’s financial services are on a rising trend in line with development in the region.

Electronic financial transactions and payments were following suit and had been growing significantly in recent years.

He said IDEALINK takes this trend seriously and is continuing to join hands with the right partners to help clients expand their advantages in the context of this trend.

“We have been working closely with Wirecard NZ and are confident with their solutions, systems, services and experience in delivering results and client’s expectations to the full,” he said.

“With this deal, we believe IDEALINK and Wirecard will bring additional state-of-the-art payment solutions and systems to Cambodia, Laos, Myanmar and Vietnam.”

Wirecard NZ, based in Auckland, New Zealand is subsidiary of Wirecard AG that operates in the Asia Pacific region. Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels.

The Wirecard Group offers outsourcing and white label solutions for electronic payments.

Wirecard NZ managing director Andreas Kazamias said: “We believe their capabilities, experiences and networks will help us reach out to the region faster and with joint delivery of quality results.”

Acleda Bank executive vice-president So Phonnary said recently that the popularity of internet banking and electronic payment has markedly increased over the past few years. She said that since they had introduced the service in 2014, personal and business clients had increasingly used the platform for transactions.

“For those who use the internet, for banking services, we find it easy to explain. But we have to promote how to use internet banking with new customers,” Ms. Phonnary said.

“Internet banking is a secure, safe and convenient way to manage all day-to-day banking,” she added. “For big companies to arrange their employee payroll they no longer need to visit the bank, they can just stay at the office and make payroll by using internet banking.”

According to Telecommunication Regulator Cambodia, by the end of September there were seven million users of mobile internet and almost 90,000 home internet connections in the country.