FTB and UnionPay International Signed MoU to Boost Payment

Phnom Penh, Foreign Trade Bank of Cambodia (FTB Bank), the first commercial bank in Cambodia, and UnionPay International (UPI), one of the world’s leading global payment networks, today officially signed a Memorandum of Understanding (MoU) to strengthen digital payment infrastructure in Cambodia. The partnership aims to enhance convenient, secure, and efficient digital payment solutions, with a particular focus on supporting the tourism sector and improving the payment experience for international visitors to Cambodia.

The signing ceremony was held at FTB’s headquarter and was presided over by Mr. Dith Sochal, Chief Executive Officer of FTB, and Ms. Leang Chenda, Country Manager of Cambodia, UPI. Under the MoU, FTB and UPI will jointly promote the wider acceptance of UnionPay payment solutions across Cambodia. Customers, the general public, and especially international tourists will be able to conveniently pay for goods and services through contactless POS terminals that will be deployed by FTB. In addition, UPI’s cardholders can conveniently withdraw cash at FTB’s ATMs, which are available at more than 86 locations throughout Phnom Penh capital and key provinces.

Ms. Leang Chenda, Country Manager of UPI Cambodia, said: “UnionPay International is committed to enhancing secure, convenient, and seamless payment experiences for cardholders worldwide. Digital payments play a vital role in enhancing smooth travel and everyday consumption across borders. Through our cooperation with FTB, we are expanding widely accepted digital payment solutions to support Cambodia’s tourism development, improve the payment experience for international visitors, and strengthen cross-border connectivity for both travelers to Cambodia and Cambodian traveling abroad.”

Mr. Dith Sochal, CEO of FTB mentioned that, “This new partnership with UPI will enable FTB to offer a new and reliable alternative of digital payment services and solutions to serve the growing needs of our market. It will not only provide the convenience of digital payment services to customers and travelers but also contribute to strengthening local small and medium size businesses by accelerating their growth and potentials to broaden their business reach in the regional and global market.”

About FTB:

As the first commercial bank in Cambodia, a truly local bank trusted since 1979, FTB has played crucial roles in helping to promote and develop the local market and economy through relentlessly providing wide ranges of banking products and services to customers. The Bank’s total assets increased to over US$2.3 billion. FTB is committed to supporting customers to achieve sustainable growth and prosperity and steadily forging ahead with the vision to be the preferred commercial bank in Cambodia.

About UPI:

UnionPay International (UPI) is a subsidiary of China UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2600 institutions worldwide, UnionPay International has enabled card acceptance in 183 countries and regions with issuance in 84 countries and regions. UnionPay International provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.