News

ElectraCard to drive e-banking services for Cambodia's largest MFI

September 3, 2013

ElectraCard Services, a division of Opus Software Solutions providing software and processing solutions for e-payment systems, has been selected by Sathapana Ltd., the leading micro-finance institutuion in Cambodia, to provide ATM and card services. The PA-DSS compliant electraSwitch and electraDebit products will power electronic banking services for Sathapana customers.

Sathapana plans to leverage the electra suite to offer a variety of value-added ATM services such as cardless remittance, mobile top-up, dual currency dispensing, check and cash deposit through the electra platform.

Sathapana CEO Dr. Bun Mony said that the move was part of the MFI's vision of long-term development in order to meet consumer demand, expanding operational areas to fulfil the financial needs of all Cambodian citizens.

"The function of microfinance institutions is the key to empowering the vast majority of Cambodians in their aspirations of becoming self-reliant and this is what Sathapana has been doing. The partnership with ECS is a step in this direction; towards economic growth."

ECS CEO Ramesh Mengawade said the company will leverage its experience with leading banks in Cambodia to help Sathapana achieve its vision of transforming from an MFI into a full service FI.

Sathapana operates through 74 branches and 27 POS terminals, and covers 24 provinces including the Cambodian capital, Phnom Penh. The Maruhan Japan Bank owns a majority stake in Sathapana. 

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