Wing Bank has partnered with Mastercard and Compass Plus Technologies to launch a new two-in-one card offering in Cambodia. The numberless One Card combines access to both debit funds and credit, with its market debut resulting in “a remarkable increase in card usage”, according to the issuing bank.
Mastercard is serving as the primary card network partner for the programme, as first revealed in October, while UK-based tech vendor Compass Plus Technologies has extended its flagship TranzAxis solution to power the new offering.
TranzAxis offers an open development payments platform and is built on service-oriented architecture (SOA) to support the complex business logic required for dual-function card management. The solution was notably harnessed by Fonepay to launch Nepal’s first virtual credit card offering in December, while Compass Plus Technologies has also partnered with the likes of Prasac, Chip Mong Bank, and ABA Bank in Cambodia.
Wing Bank says One Card was developed “in response to customer demand for a more convenient way to access both their own funds and credit in a single solution”. The card uses tokenisation to secure against fraud, and is available in both Platinum and Gold options, offering a range of user rewards and benefits.
Launched in 2008 under the Royal Group, Wing Bank is headquartered in Phnom Penh and offers both retail and corporate banking services including loans, deposits, micro-savings, credit referral services, money transfers, and retail payments via WingPay.
The digital bank has been running on Oracle’s core and branch solutions since 2023, when it also partnered with Hong Kong’s Ipification for one-click phone verification technology.
Source: https://www.fintechfutures.com/
