Latest news with #CompassPlusTechnologies
Finextra
2 days ago
- Business
- Finextra
Cambodia's Wing Bank issues 2-in-1 combined debit and credit card
Wing Bank (Cambodia) Plc has revolutionised Cambodia's payments landscape with the launch of the Wing Bank Mastercard One Card, the country's first two-in-one debit and credit card. 0 Designed to simplify financial management, enhance security, and offer greater flexibility, this cutting-edge product was developed in response to customer demand for a more convenient way to access both their own funds and credit in a single solution. Since the launch of the One Card, Wing Bank has seen a remarkable increase in card usage, reflecting strong consumer demand for flexible and secure payment solutions. Developed in partnership with Mastercard and powered by Compass Plus Technologies, the One Card features a sleek, numberless design for enhanced security, eliminating printed credentials to reduce the risk of fraud. Customers can access and control both debit and credit functionalities through the Wing Bank App, ensuring a seamless user experience. 'This innovation simplifies payments by integrating debit and credit in a single, secure card,' said Dr. Dmytro Kolechko, CEO of Wing Bank. 'With Mastercard's global expertise and Compass Plus Technologies' advanced payments technology, we're bringing the future of digital payments to Cambodia.' The One Card, available in Platinum and Gold, offers exclusive benefits such as high credit limits, airport lounge access, comprehensive travel insurance, and an interest-free grace period of up to 55 days. Annual fees are waived in the first year and beyond with qualifying transactions. The Platinum card provides a credit limit of up to USD 50,000 and extensive travel protection, while the Gold card offers up to USD 5,000 in credit and valuable lifestyle perks. Compass Plus Technologies played a pivotal role in enabling the card's development, providing technical support, configuring product features, and ensuring seamless integration with Wing Bank's digital banking ecosystem. 'We are proud to support Wing Bank in bringing this first-of-its-kind card to Cambodia,' said Igor Simonov, Associate VP, Account Director and Regional Sales Director at Compass Plus Technologies. 'By leveraging our cutting-edge payments technology, Wing Bank has created a product that enhances security, convenience, and financial flexibility for consumers.' With Cambodia's digital transformation accelerating, Wing Bank has positioned itself at the forefront of this movement, providing innovative, customer-centric financial solutions that empower consumers and drive financial inclusion. 'We are committed to pushing the boundaries of digital payments to provide our customers with world-class financial solutions,' added Dr. Dmytro Kolechko. 'The Mastercard One Card is a testament to that mission.'
Zawya
13-03-2025
- Business
- Zawya
KCB Bank unveils Kenya's first platinum multi-currency card with Compass Plus Technologies
Dubai, UAE – KCB Bank, the largest financial institution in East Africa, has partnered with Compass Plus Technologies to strengthen its multi-currency offering by launching Kenya's first platinum multi-currency prepaid card which will empower its customers with the flexibility and convenience they need to pay for goods and access funds across borders. The card allows users to load and transact in 11 currencies - Kenyan Shilling, US Dollar, British Pound Sterling, Euro, Swiss Franc, Australian Dollar, Canadian Dollar, Indian Rupee, Japanese Yen, South African Rand, and Chinese Yuan - some of the most popular among its customers, all while helping users avoid the typical exchange fees associated with currency conversion. 'The launch of this card is a celebration of the strengthening of our long-standing partnership with Compass Plus Technologies. This collaboration, once again, brings together two leaders in the industry, merging our expertise, innovation, and shared goal to provide exceptional financial solutions living up to our aspirations of being the bank of choice in Kenya,' said Angela Mwirigi, Director of Digital Financial Services, KCB Bank Kenya Once enrolled, cardholders will enjoy favourable exchange rates and reduced conversion costs that eliminate unexpected charges and simplify global spending. The card's ability to handle multiple currencies removes the need for separate currency accounts or physical cards, ensuring greater convenience and security. "We are thrilled to have collaborated with KCB Bank on this exciting venture," stated Adil Ahmed, Vice President & Deputy Managing Director, MEA at Compass Plus Technologies. "Throughout our long-term partnership, KCB has always taken a forward-thinking approach to developing new card products to improve the lives of their customers. This card not only enhances the banking experience for KCB Bank's customers but also sets a new industry standard for multi-currency prepaid cards in Africa." KCB Bank has been working with Compass Plus Technologies since 2012, when the bank successfully consolidated its three separate systems into one flexible in-house processing centre to handle its issuing, ATM, and POS acquiring businesses. Since then, the two parties have worked together on multiple projects to drive financial inclusion in Kenya and expand the bank's presence in East Africa. For more information, please contact Declan Kinsella at PR@ About KCB Bank Kenya Ltd KCB Bank Kenya Limited is the largest commercial bank in the country. A subsidiary of KCB Group Plc, the Bank has the largest branch network, with over 200 branches, 367 ATMs and 16,000 agents offering banking services on a 24/7 basis in East Africa. This is complemented by mobile banking and internet banking services with a 24-hour contact center services for our customers to get in touch with the Bank. KCB Group Plc- which also has presence in Uganda, Tanzania, South Sudan, Burundi, Rwanda and a representative office in Ethiopia also boasts of a wide network of correspondent relationships totaling over 200 banks across the globe and our customers are assured of a seamless facilitation of their international trade requirements wherever they are. About Compass Plus Technologies: Compass Plus Technologies is passionate about payments technology and architecting it properly for the needs of today and tomorrow. From start-ups and industry disruptors to recognised innovators and market leaders, our exceptional technology puts our customers in the driving seat and ultimately in control of their payment ecosystems. Together, we deliver ground-breaking and industry-leading products and services with uncontested ease and proven time-to-market.
