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SBC - SEA's First EMV Issuance & Acquiring Bank

SBC Bank announced that they have received certification from Visa for EMV chip card issuance and acquiring. It is the first Visa member bank in SEA to achieve both full EMV chip card issuance and acquiring status on their systems. With this approval, SBC Bank is now capable of issuing EMV Visa smart cards as well as deploying EMV smart card terminals in Cambodia.

While the penetration of credit card usage in developing Cambodia is relatively low compared to developed countries, SBC Bank has managed to leapfrog traditional magnetic-striped payment infrastructure to chip cards and terminals.

"The wide use of smart cards will undoubtedly speed up the adoption of internet-based transactions. It also provides much greater resistance to skimming, in which criminals duplicate information against the magnetic strip of a credit card and use the card for their own benefit. To reduce fraudulent activities, banks worldwide are now moving towards replacing its conventional magnetic stripe credit cards with the EMV chip credit card. We are also very pleased to have selected Datacard to implement the EMV project for us. They have proven to be the most reliable and competent vendor we have engaged thus far. Datacard has worked very closely with our staff and implemented the full EMV solutions within a two-month period," said SBC's Executive VP, Diaz Kun.

Diaz added that many local banks are now concentrating on the credit card segment as one of their sources of earnings. "As of today, Datacard has implemented more than thirty EMV solutions worldwide. We are very happy and honored to be engaged by SBC Bank to implement the EMV solutions for them. SBC Bank's achievement for being the first Visa member bank in SEA to achieve both full EMV chip card issuance and acquiring is not only an achievement to the bank but also to the country. We wish them greater success in the EMV credit card programmes," said Datacard Regional Director for Asian & Taiwan, Jason Yee.

Andy Kun, President & CEO of SBC Bank, said, "SBC Bank is committed to providing innovative new services to our existing and potential customers. SBC Credit Card shares our vision to explore new areas of services to meet the ever-changing market environment. The launch of the "SBC Visa Smart Card" is an excellent example to demonstrate our dedication to business diversification in meeting customers' needs. We are entering the exciting market of credit cards for today's consumers' personal lifestyle needs as we are confident that our eye-catching new card and unrivalled security features will win over this important market segment."

SBC Visa smart cardholders will enjoy special privileges such as round-the-clock customer service, worldwide acceptance, instant recognition and quick access to emergency cash at any of more than 840,000 Visa Plus ATMs around the world.
SBC Visa Smart Card boasts a number of features; cardholders will also enjoy exclusive benefits and incentives such as SBC$ Rewards Programme which awards points for spending as well as Privilege Discount Programme at Participating merchants, which is a first in Cambodia.

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