Wing Bank And Mastercard Unveil The One Card
Wing Bank (Cambodia) Plc, one of Cambodia's fastest-growing digital banks, and Mastercard, a global technology company in the payments industry, have launched an innovative two-in-one card that combines the convenience of a debit card with the reliability of a credit card, offering customers enhanced flexibility and functionality.
The launch event was held on October 18, 2024 at the Wing Tower, featuring notable attendees including H.E. Dr. Mey Vann, Secretary of State of the Ministry of Economy and Finance and Secretary General of the General Secretariat of the Non-Bank Financial Services Authority; Lok Chumteav Mithona Phuthong, Governor of Koh Kong Province; Neak Oknha Kith Meng, Chairman of the Board of Directors of Wing Bank and CEO of the Royal Group of Companies; and Lok Chumteav Neak Oknha Mao Chamnan, Chief Operating Officer of Wing Bank and Vice-Chairwoman of the Royal Group of Companies.
According to a press release issued by Wing Bank, this initiative is rooted in the shared vision of Wing Bank and Mastercard to create a financially inclusive, digital, and interconnected future for all Cambodians.
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“Through innovative solutions, we aim to empower our customers and enhance their financial experiences,” said Han Peng Kwang, Chief Executive Officer of Wing Bank. “The Wing Bank Mastercard One Card was meticulously crafted to provide a seamless, secure, and hassle-free payment solution with immediate access to funds whenever, wherever.”
Leveraging the advanced technology and global expertise of Mastercard to enhance the security and convenience of digital payments in Cambodia, the Wing Bank Mastercard One Card features a numberless design, protecting sensitive card information and significantly reducing the risk of fraud and theft.
This technology, which has been successfully adopted in several other Southeast Asia markets, such as Singapore and the Philippines, improves safety for both online and offline transactions by reducing reliance on the physical card number and instead leveraging tokenised technology. For online transactions, cardholders verify their identities on the issuing bank’s mobile app to approve each purchase.
Delivering secure and innovative payment solutions, the Wing Bank Mastercard One Card offers consumers seamless access to funds while ensuring top-tier protection. It incorporates multiple layers of security, including real-time transaction monitoring, to safeguard cardholders against unauthorised usage and bolster overall payment security.
Winnie Wong, Country Manager, Vietnam, Laos and Cambodia, Mastercard, said:
Cambodia is embracing digital transformation alongside its steady economic growth, with consumers seeking flexible, secure, and convenient ways to transact. The Wing Bank Mastercard One Card provides that flexibility and security, giving cardholders greater control and peace of mind over their finances. As a leading global technology company in the payments industry, Mastercard is committed to fostering inclusive digital economies, and this collaboration with Wing Bank underscores this mission, delivering innovative payment solutions that support Cambodia’s growing digital economy.
The Wing Bank Mastercard One Card is available in two premium options – Platinum and Gold – designed to meet the diverse needs of today’s consumers. Both cards offer priority support through in-app chat and real-time account management via the Wing Bank App, empowering cardholders with seamless control and service at their fingertips.
The Platinum card offers a credit limit of up to USD 50,000, enabling substantial purchases and cash advances of up to 50 per cent of the credit limit. For frequent travelers, the card provides access to airport lounges worldwide within the Plaza Premium Lounge network, allowing up to eight visits per year. Additionally, it features comprehensive travel protection, including up to USD 1 million in travel insurance, up to USD 500,000 in global medical coverage, and up to USD 3,000 for flight cancellations.
The Wing Bank Mastercard Gold One Card offers a credit limit of up to USD 5,000, with cash advances available up to 50 per cent of the credit limit. Cardholders can enjoy two complimentary visits to airport lounges within the Plaza Premium Lounge network worldwide. Additionally, the card provides comprehensive travel coverage, including up to USD 500,000 in travel insurance, up to USD 250,000 in global medical insurance, and up to USD 1,500 for luggage loss or flight cancellations.
Both cards come with an interest-free grace period of up to 55 days, enabling effective expense management. The annual fees are waived for the first year, and they will remain waived in the second year if the cardholder completes more than 12 transactions.
For more information about the Wing Bank Mastercard One Card, please visit www.wingbank.com.kh.
This press release was supplied.
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