PHNOM PENH: Sathapana Bank has become the first leading commercial bank in Cambodia to offer overseas funds transfer service with Visa B2B Connect, for all new and existing business banking customers. More than 104 countries and territories worldwide are covered by Visa B2B Connect, and over 100 currencies are available for transfer.
The Chief Executive Officer of Sathapana Bank, Fung Kai Jin, has said “The ability to make and receive payments quickly and securely is crucial for businesses of all sizes, especially in today’s ever-changing regional and global business environment. With Visa B2B Connect, Sathapana’s business banking customers can benefit from the convenience of making fast and secure cross-border commercial payments through our extensive network of branches.”
The Visa Country Manager for Cambodia, Monika Chum, said that “Visa B2B Connect will empower Sathapana Bank clients to enter the global economy with highly secure international payments at a reduced cost.”
According to a press release issued by Sathapana Bank:
“Visa B2B Connect has been launched for both outbound and inbound business-to-business payments. Cambodian businesses are enjoying seamless, efficient and predictable payments to many markets, with the popular destinations being Thailand, Singapore, Hong Kong, Europe, Mainland China, Japan, the U.S and Bangladesh. Visa B2B Connect provides a single connection to the globe so that businesses can transfer money directly to the recipient account. This removes intermediary banks, reducing significant time and cost for each transaction. At the same time, it provides businesses full visibility of their fees, exchange rates and when funds would be delivered from the outset.
Visa B2B Connect features several safety layers, with each transaction screened for enhanced payment security. Additionally, an organization’s sensitive business information is protected by Visa’s proprietary tokenization technology, making it illegible even in case of unauthorized access.”
Sathapana Bank is one of the leading commercial banks in Cambodia, with more than 170 branches across the country, providing employment to more than 4,000 people.
