BPC sees a lot of potential in Cambodia as an emerging market economy and has therefore opened a new local outpost in its capital Phnom Penh.
BPC choose to expand its services in Cambodia because of the group’s history in the Asia Pacific Region (APAC). BPC already set foot on the ground in 2006 when the company landed its first client in the region. In 2012 BPC expanded its services to Cambodia. Since then, BPC has become a dominant provider of payment and digital banking solutions in the country with its Smartvista solutions.
Peter Theunis, BPC Managing Director, answered several key questions on the company’s reasons for its expansion programme in his interview with The Phnom Penh Post.
BPC has the ambition to continue to service the people of Cambodia in the best possible way and boosting their financial inclusion, so opening an office in the capital’s financial district was a natural next step. This new office will be used as an outpost to better understand and service the local market with BPC’s products.
Since BPC’s entry in the APAC region in 2006 they have expanded to 17 countries and have over 45 clients spread over the region. The majority of these clients are based in Cambodia.
There’s a large range of growth opportunities in the region, one of those being the high number of so called unbanked people. BPC is helping these local populations and boosting their financial inclusion via their Smartvista platform.
Currently one-third of the banks in Cambodia are a client of BPC. The company hopes to increase that market share to more than 50% in the near future, whilst prioritizing having an impact on the lives of Cambodians.
BPC aims to continue to partner with local banks to launch marketplaces for different groups and sectors in society – ranging from agriculture and SME’s to fast moving consumer market goods.