Hong Leong Bank, Mastercard launch debit card in CambodiaH

Hong Leong Bank, Mastercard launch debit card in Cambodia

Until October, 1% of each transaction made using the card will be donated to Kantha Bopha Children's Hospital.

Hong Leong Bank has launched a Standard and Platinum Debit Mastercard in order to meet the increasing digital and cashless demands of Cambodians, the bank said in a press release.

Four out of five Cambodians prefer the speed of digital payments, whilst 63% use new technology to help better manage their money, according to a study by Mastercard. Almost half or 42% of respondents also indicated that they were more comfortable using contactless payments during the pandemic as reportedly it gave them peace of mind.

Cambodian customers can avail of the bank by opening an all-in-one account online via on the Hong Leong Connect app, said Terrence Teoh, managing director and CEO of HLB Cambodia. The HLB Debit Mastercard will be delivered to customers at their location of choice.

"These new debit cards will also enable greater access to digital payments and e-commerce as it can be easily used at an ever-expanding number of online and offline merchant touchpoints. Cardholders can also enjoy extensive offers and rewards while experiencing the benefits digital payments have to offer," added Teoh.

Rewards bundled with the card include higher interest rates for the HLB all-in-one account, a waiver on Mastercard fees, and discounts from foodpanda as well as a wide range of restaurants, hotels and resorts across Cambodia.

HLB cardholders will also have the opportunity to make a difference to the community by simply spending with their cards. With each transaction made using the HLB Debit Mastercard either online or in-store from now until October, 1% of the payment value will be donated to Kantha Bopha Children's Hospital, which provides free medical services to about 85% of the country's children.

Get Asian Banking & Finance in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banking leaders admit that they are at risk of ceasing to exist in 5-10 years.
It creates a one-stop ecosystem that connects its users to EV car dealers.
It enables end-to-end visibility for both the user and their clients.
FIs role as the middleman is under threat as tech firms mull offering financial services.
The final order book saw that most demands come from the UK and EMEA.
Fund transfers from India to Singapore will only need mobile phone numbers.
The alliance, made up of 35 NGOs, noted the bank’s alleged lack of a public policy to reduce coal investments.
Banks’ credit costs are expected to undershoot their guidance.
BEA highlights hiring plans, whilst Citi says it will offer 100 types of wealth products under WM Connect.
Stress test shows NPL ratio likely to rise, but not to levels PBOC expects, the ratings agency said.
Lenders will have to reduce cross-border fees once CBDCs become more mainstream.
Users will be able to set spending limits and block cards, amongst other features.
And Mastercard bets on crypto with acquisition of CipherTrace.
He Xingxiang is suspected for “severe discipline and law violations.
Two local digital currency exchanges said that none of the top four banks would do business with them.