Asian Card User Conference held in SL
Wordline Asia Pacific the main organiser of the 25th session of the Asian Card User Conference together with many banks, has congregated in Negombo, to discuss modern and up-to-date Asian financial trends and techniques, with nearly 50 banks and financial service providers being represented from nearly 10 Asian countries.
The conference creates a place for bankers from various Asian countries to meet each other and be made aware of the latest innovative Asian payment techniques, whilst giving an opportunity to Sri Lanka’s banking sector to enter into beneficiary partnerships with other Asian banks and financial service providers.
Wordline Asia Pacific’s Chief Executive Officer, Tee Kee Ming said this annual conference was first held in 1992 and over its 25 year history was held Thailand, Vietnam, Indonesia, Malaysia and Singapore, being held in Colombo for the first time which was proposed as a possible venue during Vietnam and also the long-term partnership of over 10 years with People’s Bank in Sri Lanka.
“I believe that Sri Lanka is still in the premature stage in the usage of cards for financial transactions when compared with other Asian countries. One of the major drawbacks the country faces is acceptance by the average citizen of the country to use cards as a means of payment,” he said.
Ming added that the country’s 30-year civil war had impeded certain national development initiatives in the country such as countrywide usage of credit cards.
Asia’s emerging markets are expected to increase from 30% to 41% of world GDP by 2023. Thus, the organisers believe that through conferences like this they can give a boost to Asian banks to be at the forefront in developing financial services. ¹
The conference also hopes to address regulatory trends and how to ensure protection and security to the customers. Problems pertaining to information security are of acute importance where technology advancements are taking place at a rapid pace. ACU believes that through discussion their delegates can come up with innovative ways on how to tackle fraudulent online transactions.²
Promoting a cashless society will pave the way for many cashless transactions. On the other hand, Sri Lanka being chosen as the venue of an international confab would help in the promotion of the country as a MICE destination as well.
|Article Code :||VBS/AT/03102017/Z_2|