Sathapana Bank and Ly Hour Pay Pro Plc. Sign Partnership Agreement

Phnom Penh, 26thAugust2019- Sathapana Bank, one of Cambodia’s leading commercial banks, officially launched today its partnership agreement with Ly Hour Pay Pro Plc., (Ly Hour Veluy), offering a convenient and secure way of transferring money instantly between a Sathapana account and Ly Hour Pay Pro LYFE Wallet using the Sathapana Mobile and Ly Hour VeluyApp.

The partnership also allows Sathapana's loan customers to  make loan repayment by making cash-in at over 4,500 Ly Hour Veluy agents located all over Cambodia. 

“Financial partnerships such as with Ly Hour Pay Pro highlight our focus on improving our digital capabilities to support our expanding activities - especially through our Sathapana Mobile,” said Mr. Lim Aun, Chief Executive Officer of Sathapana Bank.

“Since the beginning of Sathapana, we have seen thousands of people's lives changed positively through our best-in-class full banking services with advanced technology. And as our new partner, Ly Hour Pay Pro will help make it even easier through their Ly Hour Veluy App(LYFE Wallet) and over 4,500 agents across Cambodia,” Mr. Lim added.

In a speech during the signing ceremony, Oknha LY Sopheap, Chairman of Ly Hour Pay Pro Plc. said: “We trust in the partnership cooperation between the two of us. It is an effective mechanism to improve the people’s lives and it would make easier for them to access this financial service.”

“After launching this service, Sathapana Bank’s customers will get an easy way to access their loan payment through more than 4,500 agents of Ly Hour Veluy in over 25 provinces in Cambodia,” he added.
This latest partnership of Sathapana Bank and Ly Hour Pay Pro is intended to offer Cambodians financial solutions such as money transfer and loan repayment for their personal and business needs that are safer, faster and more convenient.

To celebrate the partnership, customers can transfer money from Sathapana Mobile to Ly Hour Veluy(LYFE Wallet) and from Ly Hour Veluy (LYFE Wallet) to Sathapana Mobile with ZERO fee charge. The promotion will run until 23rd November 2019.

About Sathapana Bank
Sathapana Bank is one of the leading commercial banks in Cambodia with total assets of over US$ 1.3 billion and more than 4,000 employees. We have the second largest branch network in the country with over 170 branches and 161 ATMs with cash recycling capability. We provide full banking services such as loans, deposits, iBanking, Mobile Banking, debit & credit cards, domestic and foreign remittances, Western Union, trade finance and other services.

About Ly Hour Pay Pro Plc.
Ly Hour Pay Pro Plc (called Ly Hour Veluy) is a leading company licensed by the National Bank of Cambodia on January 20th 2016 to carry out the operation as a third-party processor entrusted by the Foreign Trade Bank in Cambodia.
On March 27th 2018, Ly Hour Veluy is obtained a new Payment Services Processor License from National Bank of Cambodia replaced an existing the Operating License as a third-party provider. Currently, Ly Hour Veluy is a leading company of payment services to serve our customers with double secure and trust-worthy with our 1,000 agencies in Phnom Penh and over 4,500 agencies in over 25 provinces in total in Cambodia. As well we have 313 employees to offer service and support customers directly.