MediaOur News"WeChat Pay" Adopted by Cambodia's Leading Bank, ACLEDA Bank, as Overseas QR Code Payment Service

"WeChat Pay" Adopted by Cambodia's Leading Bank, ACLEDA Bank, as Overseas QR Code Payment Service

March 5, 2024

NETSTARS Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director and President: Tsuyoshi Ri; hereinafter, "NETSTARS") has announced that it will commence provision of "StarPay" gateway solution which will facilitate "WeChat Pay" from Tenpay Payment Technology, to Cambodia's leading financial institution ACLEDA Bank Plc. (Headquarters: Preah Monivong Blvd., Sangkat Srah Chork, Khan Daun Penh, Phnom Penh, Cambodia; hereinafter, "ACLEDA Bank").

ACLEDA Bank is progressively introducing QR code^[1] payment in order to provide a convenient payment service to overseas tourists. As part of this initiative, ACLEDA Bank will adopt "WeChat", and from February 2024, "WeChat" provided by Tenpay Payment Technology Co. Ltd., will facilitate payments via dedicated POS terminals at member stores of ACLEDA mobile, ACLEDA Bank's mobile payment service.

Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said "We are delighted to be partnered with Japan's NETSTARS. Going forward, we plan to use the gateway provided by NETSTARS to commence support for a wide range of overseas QR payment brands."

NETSTARS' "StarPay" is a gateway solution for various Japanese and international QR code payment service, providing support for over 25 brands domestically in Japan. In addition, StarPay also supports overseas payment apps such as China's widely-used "WeChat Pay" and "Alipay/Alipay+", as well as services from Southeast Asia, South Korea, and other regions.

About ACLEDA Bank Plc.

At present, ACLEDA Bank Plc. has four subsidiaries, ACLEDA University of Business, ACLEDA Securities Plc., ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd., as well as a liaison office in Myanmar. At the end of December 2023, ACLEDA Bank's total assets amounted to 9.61 billion USD, holding collective savings of 7.10 billion USD from 4.17 million customers. As of December 2023, ACLEDA Bank had more than 0.33 million business partners and 3.3 million ACLEDA mobile subscribers.

About NETSTARS

Established in 2009, NETSTARS has progressively expanded its payment gateway business. In 2015, it was the first agent to introduce China's QR code payment service "WeChat Pay" to Japan. Since then, NETSTARS has expanded StarPay, a payment solution service that provides stores with integrated implementation and management of various Japanese and international QR code payments and other cashless payment services. At present, using StarPay's technological capabilities as a foundation, NETSTARS is working on further development of diversified services. Official Website: https://www.netstars.co.jp

^[1] QR Code is a registered trademark of DENSO WAVE Incorporated.

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