Sathapana Bank rapidly launches Mastercard credit cards after migrating to the Way4 payment platform
Sathapana Bank has migrated from several disparate CMS and switch systems into a single infrastructure powered by Way4, OpenWay’s best-in-class digital payment software platform. This platform has simplified operations and technical support for the bank’s payments business. The Way4 technology stack, featuring end-to-end online payment processing functionality and a rule-driven, digital-first approach, has enhanced the bank’s flexibility and enabled a faster rollout of Mastercard credit cards.
Sathapana Bank, a leading commercial bank in Cambodia, is celebrating the launch of its new Sathapana Mastercard credit cards. These cards bring to customers the convenience and flexibility of the Mastercard priceless™ experience, with 1,000 unique benefits at over 90 million merchants worldwide. Besides global accessibility, Cambodian consumers gain a range of cashback rewards and special offers from hundreds of e-commerce and in-store merchants within their country.
This milestone was reached after successfully migrating the bank’s fragmented payment infrastructure, inherited from two financial institutions, to OpenWay’s best-in-class Way4 digital payments software platform. Way4 functions as a genuine online payment solution with complete functional coverage, and it is rule-driven, ensuring a digital-first, fast-to-market approach that is proven by the global and local experience of the OpenWay team. The complete migration of Sathapana’s card issuing and merchant acquiring portfolio was accomplished in a record time of 6 months.
The new top-rated, innovative platform allows Sathapana Bank to optimize its operations and double its card issuing business while expanding its acquiring processing capabilities. Sathapana Bank is now serving 25% of all Cambodian businesses, encompassing MSMES, SMEs and corporates, which testifies to the reliability and usability of its Way4-based offerings.
Mr. Fung Kai Jin, CEO of Sathapana Bank
“We selected OpenWay because we need a reliable and secure payment technology partner with strong experience and customer support. This is essential to pursue our digital payment ambitions and deliver on our promise to deliver everyday banking convenience to our customers.”
Rudy Gunawan, Managing Director of OpenWay Asia
"We are grateful to Sathapana Bank for their trust and proud to partner with them in delivering the best payment products to their customers. We are committed to continually providing the highest standards of financial services to our clients.”
About Sathapana Bank
Sathapana Bank is a leading commercial bank in Cambodia with total assets of over US$ 2.7 billion and over 4,400 employees. It has an extensive branch network nationwide with more than 170 branches, 3 Sathapana Premier Banking halls, and over 300 ATMs. It provides complete banking services such as loans, deposits, mobile banking, Mastercard debit & credit cards, domestic and foreign remittances, S2Biz, payroll services, cross-border fund transfers with SWIFT, Thunes and Visa B2B Connect, Western Union, trade finance, and other financial services.
To support the growth of micro, small and medium businesses in Cambodia, Sathapana Bank also offers a wide range of payment acceptance solutions such as the Sathapana Tutort merchant app, Sathapana Gateway, Sathapana POS and more.
Sathapana Bank won two prestigious awards, “Best Mobile Banking App Awards 2022” and “Mobile Banking & Payment Initiative of the Year” from the UK-based Global Brands Magazine and Asian Banking & Finance Retail Banking Awards for its newly revamped mobile banking app, Sathapana Mobile. With Sathapana Rewards, customers can collect and redeem Sathapana Stars to enjoy discounts and more from their favorite merchants, making using Sathapana Mobile every day a rewarding experience.
About OpenWay
OpenWay is the only best-in-class provider of digital payment software solutions for both card processing and digital wallets as well as the best cloud payment systems provider as recognized by industry experts at Aite and PayTech. Renowned Tier 1 and 2 banks and processors, as well as ambitious fintech startups, have chosen OpenWay as their strategic partner. Notable among them are Nexi and NBG in Europe; Comdata in the US; Banesco in Latin America; LOTTE and JACCS in Asia; Network International and Equity Bank Group in MENA; Ampol in Australia, and other leading payment players worldwide.
With its unique capabilities in card issuing, merchant acquiring, transaction switching, and digital wallets, the Way4 software platform guarantees an unparalleled customer payment experience. Distinguished by its unique architecture, which unifies back- and front-office operations, enables online accounting, and ensures high availability, Way4 stands out as the only truly online payment platform for Tier 1 players. Our experienced and globally renowned team of experts, coupled with Way4’s exceptional flexibility and scalability, enables rapid innovations and propels our clients to industry leadership.
Photos from the event you can see here.