Cambodia’s Vattanac Bank this week announced a partnership with global payments network EMQ, to facilitate real-time cross-border payments across Asia. By integrating with EMQ’s API-enabled payments platform, Vattanac Bank said it 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.
“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 having access to 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.
Vattanac Bank is a Cambodian-owned bank with 30 branches – 13 in Phnom Penh and 17 in the provinces, offering both retail and commercial banking services.
