PHNOM PENH: ABA Bank, the largest commercial bank in Cambodia, and Grab, a leading superapp in Southeast Asia, today announced a strategic partnership to integrate their digital payment facilities via ABA’s PayWay payment platform.
Through this collaboration, they will offer their customers the country’s popular and secure payment methods for enhanced convenience in cashless transactions.
The partnership introduces an Account-on-File (AoF) feature, allowing Grab users to securely link their accounts within the Grab app for hassle-free, automatic payments.
Once the ABA account is linked, users can pay seamlessly for rides and food deliveries without any extra steps. This integration enhances the convenience and security of cashless transactions, benefiting millions of customers across Cambodia.
Additionally, the PayWay Plus platform, powered by Visa’s CyberSource solution, was chosen as Grab’s new local payment gateway for processing all card payments within Cambodia.
This shift to a local gateway improves Grab’s transaction management and reliability while supporting various payment methods, including Visa, Mastercard, and UPI cards.
“Grab’s mission has always been to drive Southeast Asia forward. By partnering with ABA Bank, we are taking a significant step towards providing our users with a seamless and secure digital payment experience,” said Kang Sovannarot, Cambodia Country Head of Grab.
“This partnership is a testament to our commitment to bring more value to our users.” He added.
ABA Bank partners with Grab to offer seamless, secure digital payments, enhancing convenience and supporting a cashless, digital economy in Cambodia, says Zokhir Rasulov, ABA’s Chief Digital Officer.
“We’re simplifying transactions for millions by integrating ABA PayWay’s Account-on-File into the Grab app. We’re excited to keep innovating with Grab to meet customer needs and support Cambodia’s digital transformation,” he concluded.
ABA PayWay enables businesses in Cambodia to accept online and in-store payments from any banking app and local or international cards. Customers can pay seamlessly in USD and KHR via ABA Pay, KHQR, Visa, Mastercard, UPI, JCB, Alipay, and WeChat. With this platform, businesses can monitor transactions in real time and benefit from the secure PCI-DSS-compliant integration.
Overview of ABA PayWay
ABA PayWay is a prominent online payment gateway in Cambodia, provided by Advanced Bank of Asia Ltd. (ABA Bank). It is designed to facilitate e-commerce transactions, allowing businesses to accept various forms of payment from customers.
Key Features:
- Multiple Payment Options: ABA PayWay supports payments through major credit cards such as Visa, Mastercard, and UnionPay, as well as local payment methods like the ABA PAY QR code. This variety ensures that businesses can cater to a broad customer base.
- Merchant Portal: The platform offers a comprehensive merchant portal where businesses can manage transactions, issue refunds, and handle invoicing. Users can also manage roles and access permissions within the portal.
- Easy Integration: The gateway can be integrated into e-commerce platforms like WooCommerce with minimal technical expertise required. This ease of setup allows businesses to quickly start accepting payments online.
Setting Up
To utilize PayWay, businesses must follow these steps:
- Business Registration: Companies need to be legally registered in Cambodia.
- Open a Business Bank Account: A business account with ABA Bank is necessary to receive payments.
- Integration Process: Businesses can integrate the payment gateway using the provided API documentation and code samples, primarily in PHP. A sandbox environment is available for testing before going live.
Benefits
- Cost Efficiency: The service is designed to minimize setup costs and does not require extensive technical knowledge for integration.
- Real-Time Monitoring: Merchants can monitor transactions in real-time, providing immediate insights into sales performance.
- Support for Local Payments: The inclusion of KHQR codes allows for easy payments directly from bank accounts, enhancing convenience for customers who prefer local payment methods.
Conclusion
ABA PayWay stands out as a reliable solution for Cambodian businesses looking to expand their online payment capabilities. Its comprehensive features and user-friendly integration process make it an attractive option for both new and established e-commerce platforms in the region.