Phnom Penh: Tang Kung Pay Plc, a private financial institution in Cambodia, and Phillip Bank Plc. a member of Singapore-based Phillip Capital Group Plc, held a partnership agreement signing ceremony on 13 December 2021, under the participation of management of both entities.
At the signing ceremony, Okhna Tang Kung, Chairman of Tang Kung Pay Plc, strongly believe that the partnership will contribute to building greater trust in Tang Kung Pay Plc by the customers with regards to our fast and secure digital payments.
“With a clear vision in providing a modern payment solution that is convenient and beneficial for daily lives of customers at the present and in the future, I have decided to create a digital payment solution that is smart, instant, and secure. I strongly hope that this digital payment will be a leadership payment solution in the country as well as in Asia,” said Okhna Tang Kung.
Such vision has allowed Tang Kung Pay Plc to prepare a clear plan and strategy for the soft launch of this digital payment. Through the soft launch of the Tang Kung Pay app, the company has received such a significant result and this can be seen via the benefits that users, including small and business owners, receive through the new digital payment platform-one that provide a wonderful customer experience, convenience, secure and reliable.
Mr. Chan Mach, Chief Executive Officer of Phillip Bank Plc said as one of the largest commercial banks in Cambodia, Phillip Bank also share a similar goal to Tang Kung Pay, which is to bring digital financial products and services to meet the needs of every Cambodians. This similarity has led the two companies into the partnership agreement today to study the feasibility for the customers of both entities to process financial transactions domestically and internationally through fund transfer, payment and co-branded Virtual MasterCard.
“All the services mentioned is expected to provide many benefits for both customers of Tang Kung Pay and Phillip Bank Plc. We hope that this will bring fruitful results in the future,” said Mr. Chan.
Tang Kung Pay Plc was established on 11 November 2021 with the aim of promoting the financial sector in Cambodia. Tang Kung Pay Plc has signed MoU with Phillip Bank to create a Trust Account since 09 September 2020 but has not yet announced the MoU until the date of the official partnership agreement ceremony.