8 April 2016 Phnom Penh, Cambodia – Canadia Bank and Smart Axiata announced today SmartPay , a payment service that enables customers to purchase goods and services through a virtual MasterCard card.
Present at the event included His Excellency Chhuon Dara, Secretary of State, and company officials from Canadia Bank and Smart Axiata.
Leaders in the Cambodian market, Canadia Bank and Smart Axiata are pioneering an effective way to better connect buyers and sellers, creating a new way for customers to make online purchases, which will be made via a Canadia Bank MasterCard card, and through the Smart network. More and more consumers seek efficient and secure ways to make fast online purchases for goods and services. While today a significantly higher number of Cambodia’s have a banking relationship, consumers are not required to have a bank account in order to enjoy the benefits of SmartPay.
The demand for app purchases in Cambodia is high, however, credit card usage remains low. Smart and Canadia Bank recognized this gap and together created SmartPay to allow more consumers access to the apps they desire. In doing so they have opened up this space allowing anyone access, whether or not they have a bank account. While initially the scope of the partnership involves purchases of apps through Apple iTunes, the service will expand over time allowing customers to enjoy far more purchasing options. As e-commerce continues to expand and develop, SmartPay will also create significant opportunities for local app developers who want to make their apps available to a wider consumer base.
Thomas Hundt, Chief Executive Officer of Smart Axiata said “We are the third in the world to launch such service. SmartPay will bring a positive change to the country. As an innovation company, we see SmartPay beyond just a virtual MasterCard. We see it as motivation and hope. Its role will groom more Cambodian App Developer and E-Commerce payments industry in the country. With the existence of SmartPay, there will be no longer a barrier to own MasterCard card for our people because they all need one and now they can have one”
“Canadia Bank continues to create win win partnerships with leading regional and global companies, and our partnership with Smart Axiata is a reflection of the commitment we have to serving the needs of the Cambodian market.” said Danny Quah, Chief Executive Officer of Canadia Bank. He went on to say that, “This partnership with Smart Axiata serves as a platform whereby we will realize more growth in this crucial and rapidly developing space. Both companies recognize the opportunity to allow more people access to the apps they need and want, and also to bring more Cambodians into a financial services relationship where they may otherwise would not have considered.”
Registering for SmartPay is quick and easy, and requires no long complicated forms. Everything can be done through your mobile device, and customers may begin to make online purchases soon after registration. You can send REG to 999 and follow easy and simple steps. You then will receive your card number and you can use it exactly the way you own a MasterCard.
Smart offers all customer who register for SmartPay before 30th April a zero monthly charges until 31st July 2016 and a 50% off for the transaction fee until 30th April. Afterward only 10 cents monthly subscription fee and 50 cents standard transaction fee applies. All charges will be deducted through your main balance.