FAST, EASY & SEAMLESS CONTACTLESS PAYMENT EXPERIENCE FOR UNIONPAY CARDHOLDERS AT PPSHV EXPRESSWAY

Exclusive 10% savings for UnionPay Cardholders till April 30,2023

PHNOM PENH,Cambodia,Jan. 16,2023 -- Industrial and Commercial Bank of China Limited Phnom Penh Branch (ICBC PP) and UnionPay International (UPI) today announced that ICBC PP has enabled UnionPay Chip card and Contactless card payment for UnionPay Cardholders on Phnom Penh Sihanoukville (PPSHV) Expressway. UnionPay is the only payment brand that has enabled Chip card and Contactless card payment on PPSHV Expressway.

UnionPay Cardholders can now make fast,instant,secure and Contactless payment by simply tapping or inserting their UnionPay card to pay as compared to the hassle of using cash to make toll payment on this Expressway.

Under the Belt and Road Initiative (BRI),the PPSHV Expressway strengthens the bilateral relationship between China and Cambodia,and is the largest transportation infrastructure in Cambodia,stretching 187 kilometers between Phnom Penh and City of Sihanoukville. Some benefits of PPSHV Expressway include savings on transport cost between both cities,over 50% reduction in traveling duration from up to five hours on National Road Four to just two hours on PPSHV,making logistics more efficient and decrease in traffic accidents. Drivers have reported positive driving experience on this highway,with the Cambodian government planning for a second highway between Phnom Penh and Bavet under the BRI.

"We are pleased to work with our long trusted partner ICBC PPto enable Contactless payment for drivers to pay toll charges easily at the expressway. UPI actively participates in building the payment infrastructure in Cambodia to foster a cashless society,and we are happy to help enhance the transportation infrastructure by providing a superior payment experience for drivers on the PPSHV Expressway," said Ms. Leang Chenda,Cambodia Country General Manager,UnionPay International South East Asia.

Said Mr. Lin Shiqiang,General Manager,ICBC PP,"We are very pleased to be able to collaborate with UPI to participate in this strategic BRI project to improve transportation and logistics efficiency in Cambodia. Enabling electronic and cashless payment on the PPSHV Expressway is in line with our aim to better serve our customers in the kingdom by providing more relevant products and services."

To promote the usage of UnionPay Contactless payment on PPSHV Expressway,UnionPay Cardholders enjoy 10% discount when making Contactless payment at PPSHV Expressway toll booths. The discount is capped at USD5 per UnionPay card per day,limited to Contactless transaction only,valid till April 30 2023,or while stock lasts.

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About ICBC Limited Phnom Penh Branch

ICBC Limited Phnom Penh Branch (ICBC PP) officially opened on November 30,2011,which provides banking services to corporate and individual customers including deposit,remittance,loan,trade finance,international settlement,RMB service,internet banking,bank card and POS terminal,etc

About UnionPay International

UnionPay International (UPI) focuses on the international business of UnionPay,a global payment network that serves the world's largest Cardholder base. With over 70 million merchants accepting UnionPay in 181 countries and regions. UPI provides high quality,cost effective and secure cross-border payment services to the world's largest Cardholder base and ensures convenient local services to a growing number of global UnionPay Cardholders and merchants.

In Cambodia,UPI collaborates with many financial,Microfinance and Fintech institutions to provide a wide range of payment products and services. Now ABA Bank,Acleda,AMK,Bank of China,Bongloy,Cambodia Asia Bank,Canadia Bank,CMBC,ICBC,Mekong Bank,Mpay and Prince Bank issue a wide range of UnionPay products. Visit www.facebook.com/UnionPayKHfor more info.