Phillip Bank launches virtual debit Mastercard

Michael Tan, Singapore's ambassador to Cambodia with senioor Phillip Bank staff. KT/Siv Channa

Phillip Bank yesterday launched their own virtual debit Mastercard in a bid to provide more convenience and security to customers for online purchases.

The event which was officiated by Mach Chan, Phillip Bank’s chief executive officer and Winnie Wong, country manager of Mastercard, also saw the attendance of Singapore Ambassador to Cambodia Michael Tan and around 100 participants
at the event.

The virtual card is free of charge and will not incur hidden fees and it also can be accessed in the new version of the Phillip Mobile app.

Chan said: “The launching of the Phillip Bank’s Debit Mastercard will galvanise and enhance e-commerce in Cambodia because the volume of business transacted via e-commerce has been growing rapidly and we wish to further contribute to the growth.

“We see e-commerce as a new frontier for business and we want to be a part of this movement in its early stages. Together we can bring a world of possibilities to our customers.”

Speaking through an online platform, Wong said: “Cambodia consumers and businesses are remarkably willing to leapfrog directly to the latest digital products, like this Virtual Debit Mastercard. The Philip Bank Virtual Debit Mastercard is Philip Bank’s first entry into the payment cards sector and Mastercard’s maiden partnership with Philip Bank.”

She added: “It will reinforce both organisation’s commitment to introduce digital payment innovations that are convenient, safe
and secure to use in Cambodia’s everyday life. Mastercard is delighted to be partnering with a well-established and customer-centric bank such as Phillip Bank and look forward to working with them to launch more payment cards and digital products in the near future.”

After the launch of the virtual card, proceedings took a cultural turn as Ambassador Tan, also unveiled two new artworks that were created by renowned Singaporean artist Yip Yew Chong during the Cambodia-Singapore Street Art Festival that was staged earlier this year to celebrate 55 years of diplomatic relations between the two nations.

The artworks were inspired by the strong relationship between Cambodia and Singapore: Friendship River depicts a magical mash-up of the Tonle Sap, the Mekong and Singapore’s Marina Bay dotted with iconic landmarks from both countries, while Prosperity is a reimagined banknote that fancifully blends features from a Singaporean $5 bill and a Cambodian 50,000 riel note.

During the Street Art Festival, Phillip Bank contributed a total of more than $30,000, being a platinum sponsor, and purchased the two artworks.

The organising committee will, after expenses and fees, contribute the proceeds from the festival to two organisations – Cambodian Children’s Fund and Cambodia Living Arts.

Credited: Khmer Times