Wednesday, October 16, 2024 The National Bank of Cambodia has partnered with Alipay+ to introduce cross-border QR payments, strengthening financial collaboration and driving Cambodia’s push towards digital transformation. The National Bank of Cambodia and Ant International have officially launched cross-border QR code payments, integrating Cambodia’s Bakong payment system with Ant International’s Alipay+ mobile payment and digital solutions. Through this collaboration, users of 12 international payment apps, including Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Touch ‘n Go eWallet, MyPB by Public Bank Berhad (Malaysia), GCash (the Philippines), Kakao Pay, Toss Pay (South Korea), OCBC, Changi Pay (Singapore), Hipay (Mongolia), MPay (Macao SAR), and Tinaba (Italy), can now conveniently pay at over one million merchants in Cambodia by scanning KHQR codes.
This initiative enables smooth payments for goods and services in Cambodia, with transactions settled in Cambodian riels. More merchants will be added progressively to further expand the service. This cross-border payment initiative marks a pivotal step in advancing QR code-based transactions within Cambodia’s Bakong system.
The collaboration was solidified with the signing of a Memorandum of Understanding on November 15, 2023, between the National Bank of Cambodia and Ant International during the 2023 Singapore FinTech Festival, focusing on “Cross-border Payment Cooperation via QR Codes.” Beyond Cambodia.
