Forest Interactive Cambodia, Sathapana boost digital payments

Banks are now looking to diversify their service offerings.

Forest Interactive Cambodia, Sathapana boost digital payments
Forest Interactive Cambodia Country Manager Soknang To

It's not often that a bank would focus on gaming and digital entertainment to promote its services. But this is precisely what Sathapana Bank, one of the top financial institutions in Cambodia, is doing by partnering with leading telecommunications company Forest Interactive Cambodia.

"That is correct if we were focusing only on the nature of the banks' business. However, with the current technology trends, we see that digital payment will be a key driver for most payment services today, including public services and utilities. In addition to offering legacy services and taking into consideration consumer behavior, with technology, almost everything is now accessible online, hence the rise of digital payments," Forest Interactive Cambodia Country Manager Soknang To told Digital Life Asia.

Digital vouchers and payments

using mobile phone photo by screen post
Photo by SCREEN POST / Unsplash

"All banks now offer mobile applications for users to make online transactions without visiting a physical bank. This feature could also attract new users to register and create accounts with the banks. To improve user experience and secure more users via mobile applications, banks are now looking to diversify their service offerings with new attractive services, including gaming and other entertainment options. This also creates additional revenue for the banks. Our digital voucher platform meets this expectation by not only focusing on gaming gift cards, but also providing other entertainment options such as video and music streaming and store gift cards for online shopping," To said.

The partnership with Forest Interactive Cambodia will enable Sathapana Bank customers to enjoy premium digital content, such as Discord, Netflix, Spotify, Amazon, PlayStation, PUBG Mobile, Mobile Legends Bang Bang, Garena, VALORANT, Marvel, Razer Gold, and other entertainment-related vouchers.

The service, which went live on Feb. 20, allows Sathapana Bank customers to purchase digital vouchers with just a single click. Users can download the Sathapana Bank app on Google Play, App Store, and AppGallery to enjoy up to a 50% discount until March 5.

"At Sathapana, we always look for ways to enhance our services and provide value to our customers. Our new partnership with Forest Interactive is a testament to our commitment to providing the best financial services. Our goal is to offer our customer Everyday Banking Convenience. This partnership, together with our revamped Sathapana Mobile, will bring a delightful banking experience for our customers to make their purchase transactions safely and conveniently," said Sathapana Bank CEO Fung Kai Jin.

Gaming in Cambodia

Playing Pubg Game On Smartphone
Photo by SCREEN POST / Unsplash

While Cambodia's gaming industry is still in its early stages compared to other countries in the region, To said that they expect to see a boom.

"According to Standard Insights, it is estimated that there are two million players in the kingdom, which is 12% of the total population of 16 million, and is expected to increase rapidly in the future. Numerous companies are contributing to the growth of esports in Cambodia by organizing events and competitions with cash prizes, team sponsors, and platform development.

"As part of the plan for the 2023 Southeast Asian Games, we expect esports to be included in the competition. Going back to the same report, approximately 30% of players use mobile devices (iOS/Android), while 69% use PCs/computers, with the remainder using handheld devices. However, we anticipate an increase in the use of mobile devices compared to PCs," he said.

To said he was bullish on new developments that will drive the growth of gaming in Cambodia.

"I believe that the gaming industry in Cambodia will continue to grow in the future, similar to other surrounding countries. This is one of the developing segments that contributes to the acceleration of technology, including but not limited to internet infrastructure, not only in Cambodia but also in the region," he said.

Here's to a brighter future for gaming in Cambodia!