PHNOM PENH, CAMBODIA - Media OutReach^[1] - 30 July 2021 - To meet the increasing digital and cashless demands of Cambodians, Hong Leong Bank Cambodia ("HLB" or the "Bank") in partnership with Mastercard has launched a Standard and Platinum Debit Mastercard. These new cards will provide consumers with convenient, easy-to-use and secure cutting-edge payments products when paying online or in-store.

Hong Leong Bank Cambodia partners Mastercard to introduce a Standard and Platinum Debit Mastercard to provide Cambodians with convenient, easy-to-use and secure digital payments. 

According to a Mastercard research, four out of five Cambodians prefer the speed of digital payments, while about 63 percent use new technology to help better manage their money. Additionally, 42 percent of respondents were more comfortable using contactless payments during the pandemic as it gave them peace of mind.

Terrence Teoh, Managing Director and CEO of HLB Cambodia said, "Driven by the country's exponential digital and cashless growth, we are committed to offering Cambodians simple, seamless and safe products built around their increasingly digital lifestyles. With this in mind, we partnered with Mastercard, who brings with them an advanced global network to launch our new HLB Debit Mastercard. In line with the demand for convenience, Cambodian customers can open the Bank's all-in-one account seamlessly online anytime, anywhere on the Hong Leong Connect app, without needing to step into a Bank branch. The HLB Debit Mastercard will be delivered to customers at their location of choice.

"These new debit cards will also enable greater access to digital payments and e-commerce as it can be easily used at an ever-expanding number of online and offline merchant touchpoints. Cardholders can also enjoy extensive offers and rewards, while experiencing the benefits digital payments have to offer," added Teoh.

Attractive rewards bundled with the new HLB Debit Mastercard include higher interest rates for the HLB all-in-one account, a waiver on Mastercard fees, and discounts from foodpanda as well as a wide range of restaurants, hotels and resorts across Cambodia.

More importantly, HLB cardholders will also have the opportunity to make a difference to the community by simply spending with their cards. With each transaction made using the HLB DebitMastercard either online or in-store from now till October 2021, one percent of the payment value will be donated to Kantha Bopha Children's Hospital, which provides free medical services to about 85 percent of the country's children.

"Since last year, we have seen incredible changes in the way we live, shop and work, and for many, digital payments have offered a safer, easier way of paying for essentials. According to the Mastercard New Payments Index, 94 percent of consumers in Asia Pacific are interested in trying emerging forms of payments this year. With digital commerce starting to take off in Cambodia, Mastercard is proud to be working with Hong Leong Bank to develop products that offer consumers convenience and security, while supporting digitalization efforts in the Cambodian economy," said Winnie Wong, Country Manager, Vietnam, Cambodia and Laos, Mastercard.

For more information on the new HLB Debit Mastercard or to open an account online, please visit our website.

#HongLeongBankCambodia

References

1. ^{^} Media OutReach (www.media-outreach.com)