Prince Bank on Wednesday launched its Mastercard and Visa cards to enrich its customers’ payment experience and grow its retail banking.

The move will further strengthen the bank’s foothold in digital banking, bringing cashless payments to its clients across the Kingdom.

Prince Bank launched the cards digitally earlier this year due to the mandatory social distancing requirements put in place to combat the Covid-19 outbreak.

To celebrate the launch, the bank, which was established in 2018, waived the annual fee for the cards.

“Prince Bank becomes the first to launch Visa and Mastercard debit and credit cards in less than two years after becoming a fully fledged commercial bank.

“We are constantly looking to provide services that make the banking experience of our customers even more seamless and convenient by offering debit and credit cards in different classes, such as Standard, Classic or Platinum,” said Prince Bank CEO Honn Sorachna.

The bank’s Mastercard and Visa cards are available in eight variants – Mastercard Debit and Credit Standard, Mastercard Debit and Credit Platinum, Visa Debit and Credit Classic, and Visa Debit and Credit Platinum – all designed to cater to the ever-evolving digital needs of consumers.

The bank’s senior management, representatives of Mastercard and Visa, special guests and the media attended Wednesday’s physical launch, which was held at a leading hotel in the capital under strict social distancing measures.

“Prince Bank is delighted to collaborate with Mastercard and Visa in offering seamless and cashless payments in line with our goal to become the best and fastest growing digital bank in Cambodia,” Sorachna said.

Customers can use their cards to pay for goods and services at over 45,000 places nationwide – and the more than 31 million merchants worldwide that display the Mastercard and Visa card logos.

In conjunction with the launch, the bank announced two campaigns for card users – “Cashback Campaign” and a daily discount of 50 per cent on 2D, 3D and VIP movie tickets at all Major Cineplex cinemas.

With the “Cashback Campaign”, Prince Bank’s Master-card cardholders can enjoy $1 cashback with a minimum spend of $10 in a single receipt for all purchases at point of sales machines and when conducting e-commerce. The cashback amount is credited to the cardholder’s account in the first week of the following month.

Teaming up with Mastercard and Visa will allow the bank to further leverage technology and introduce innovative payment solutions that are simple, safe and secure.

According to Prince Bank, the collaboration with the giant financial services corporations will make the lives of customers more convenient and rewarding.

The financial institution currently has 31 branches in 22 provinces and employs more than 1,000 staff, almost all Cambodian. It also boasts a network of 40 ATMs to further serve its clients. On average, its customer base is expanding by some 2,000 customers per month.

Applications for Mastercard and Visa credit and debit cards can be made at any Prince Bank branch or directly via the Prince Bank App, which is available on both Apple’s App Store and Google’s Play Store. For more information, please visit www.princebank.com.kh or call 1800-20-8888 toll free.