Sathapana Bank Adds Visa B2B Connect to Overseas Funds Transfer Service for Business and SME Customers

03/25/2022

Sathapana Bank becomes the first leading commercial bank in Cambodia to offer Visa B2B Connect for cross-border commercial funds transfer

 

Sathapana Bank hits a new milestone today to 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. This flexible cross-border business payment solution covers more than 104 countries and territories worldwide and is available in over 100 currencies.

“At the heart of our business is the unwavering commitment to provide our customers seamless experience and innovative solutions. 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,” says Fung Kai Jin, Chief Executive Officer, Sathapana Bank.

“Businesses now need payout capabilities that are transparent, fast, and easily manageable,” says Ms. Monika Chum, Visa Country Manager for Cambodia. “Visa B2B Connect will empower Sathapana Bank clients to enter the global economy with highly secure international payments at a reduced cost.”

Visa B2B Connect has been launched for both outbound and inbound business-to-business payments. Already, 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.

For more information about this service, please visit the nearest Sathapana branch or call our customer care hotline at 023 999 010 or 081 999 010. For more information on other Sathapana’s products and services, visit www.sathapana.com.kh​​.

 

 

About Sathapana Bank
Sathapana Bank is one of the leading commercial banks in Cambodia, with total assets of over US$ 2.44 billion and more than 4,000 employees. We have an extensive branch network nationwide with more than 170 branches, 3 Sathapana Premier Banking halls, and more than 250 ATMs with cash recycling capability. We provide complete banking services such as loans, deposits, iBanking, Mobile Banking, debit & credit cards, domestic and foreign remittances, Western Union, trade finance, and other services. We also offer tax collection services and public service payments with the Ministry of Public Works and Transportation and the Ministry of Labour and Vocational Training. We also cooperate with mobile payment providers such as WING, Pi Pay, TrueMoney, Ly Hour Veluy, eMoney, and Bakong to further our customers' convenience. Our partnership with Credit Bureau Cambodia (CBC) conveniently enables our customers to perform financial health checks through Sathapana Mobile.

About Visa Inc.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories each year. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.