Cambodian commercial bank BIC Bank has chosen Compass Plus Technologies and its TranzAxis payments platform to “significantly expand its digital offerings”.
Having obtained a commercial banking license from the National Bank of Cambodia (NBC) in 2018, the bank has successfully migrated its in-house processing center to TranzAxis to enable its planned business expansion. eCam Solutions, a regional partner of Compass Plus Technologies, assisted with the migration.
Compass Plus Technologies said that since moving to TranzAxis, BIC Bank has “integrated with the local Cambodian Shared Switch (CSS)” and secured a contract with Mastercard to “issue Mastercard-branded debit cards and I accept it,” he said. and he will integrate a network of POS terminals and use 3DS authentication to ensure safer online transactions. “
Eat Chetrasorivong, Chief Technology Officer (CTO) of BIC Bank Group, said: We needed a system that could not only meet our current requirements, but also support our long-term business expansion plans. ”
The bank has plans to offer credit cards in the future and will use TranzAxis to “become a Third Party Processor (TPP) to support its mission of supporting smaller banks and financial institutions in the region.” I hope
Compass Plus Technologies recently signed a deal with Cambodia-based ABA Bank to launch the country’s first self-service card issuing kiosk.