ElectraCard Services (ECS), a leading provider of software and processing solutions for electronic payment systems, announced that Sathapana Limited (SPN), the leading MFI in Cambodia, has selected ECS to offer ATM and card services to their customers.
The PA-DSS compliant electraSWITCH™ and electraDEBIT™ products, will power Sathapana’s endeavour to provide world-class electronic banking services to their customers.
Sathapana operates through 101 offices (74 branches and 27 POS terminals) and covers 24 provinces including the capital Phnom Penh. The MARUHAN Japan Bank, has a majority stake in Sathapana Limited, and together aim to introduce new products and further expand the branch network and reach to the provincial customers.
ECS’ electraSWITCH™ and electraDEBIT™ solution will facilitate Sathapana to offer to its customers access to a wide range of delivery channels. Sathapana plans to leverage the electra suite to roll out innovative and effective ways to deliver value to its account cardholders and will provide customers with an integrated and trusted micro-financial service that is secure and convenient. Sathapana will be offering a bouquet of value added services such as cardless remittance, mobile top-up, dual currency dispensing (KHR and USD), cheque and cash deposit through the electra platform.
Dr. Bun Mony, Chief Executive Officer, Sathapana Limited said, “To accomplish the vision of long-term development, the company is committed to diversify services to meet consumers’ demand and expand operational areas to all provinces and cities in the country so as to fulfil the financial need of the Cambodian citizens. The function of microfinance institutions is the key to empowering the vast majority of Cambodians in their aspirations of becoming self-reliant and this is what Sathapana has been doing. The partnership with ECS is a step in this direction; towards economic growth.”
“We are extremely delighted to associate with Sathapana and play an important role in developing the electronic banking services within Cambodia. ECS will strongly leverage its experience of having worked with multiple leading banks in Cambodia over the past 8 years to help realize Sathapana’s vision of transforming from an MFI to a full service financial institution,” said Mr. Ramesh Mengawade, CEO, ElectraCard Services.