Wing Bank has introduced the Mastercard One Card, described as the first product in Cambodia to merge debit and credit functions into a single payment card.
The product, developed in collaboration with Mastercard and Compass Plus Technologies, uses a numberless format designed to reduce the risk of card data theft. Cardholders can manage both payment modes via the bank’s mobile application.
Available in Platinum and Gold variants, the card carries different credit limits and includes optional services such as travel insurance and airport lounge access. Annual fees are waived for the first year, with the possibility of continued exemption if certain spending thresholds are met.
Digital payments in Cambodia’s fast-changing landscape
Cambodia’s move towards advanced payment products comes after a period of quick financial infrastructure growth. The country only established its National Clearing House in 2005 to handle interbank transactions, with digital banking services emerging around 2009. In under two decades, Cambodia has progressed from basic payment infrastructure to advanced products featuring integrated debit-credit functionality and enhanced security features.
Officials from Wing Bank noted that the Mastercard One Card launch followed the introduction of a Visa Infinite Credit Card in August 2024. This dual-network approach allows the bank to target different customer segments across both major global payment systems, which together account for the majority of card transactions outside China. The Visa Infinite offers limits up to USD 1 million, while the Mastercard One Card’s maximum credit line is USD 50,000, supporting offerings designed for various premium tiers.
The accelerated pace of these product launches highlights growing competition in Cambodia’s banking sector, particularly for affluent clients. It also reflects a trend of emerging markets adopting advanced financial technologies without being pulled down by legacy systems.
