Phnom Penh (FN), Oct. 16 – Cambodia has rolled out the integration of Alipay+ with its national QR code system, KHQR for seamless international payments.
This launch enables users of 12 international payment apps, including Alipay, AlipayHK, GCash, and Touch ‘n Go, to pay at over one million merchants in Cambodia using KHQR, the country’s standardised QR code.
More merchants are expected to be progressively added, further expanding payment accessibility in the country.
Payments can be made in Cambodian riels, offering a streamlined solution for goods and services purchases.
KHQR, introduced by the National Bank of Cambodia in 2022 as part of the Bakong payment system, was designed to simplify QR payments for both customers and merchants by using a single QR code for multiple mobile banking apps.
This collaboration between Alipay+ and the Bakong system, through KHQR, marks a significant step in expanding cross-border payments within ASEAN.
The partnership follows a MoU signed during the Singapore Fintech Festival 2023 between the National Bank of Cambodia and Alipay+
Alipay+ already supports cross-border QR code payments in several other countries, including Singapore, Malaysia, South Korea, Nepal, and Sri Lanka.
Chea Serey, Governor of the National Bank of Cambodia said, “One of the key priorities of the National Bank of Cambodia has been continuously enhancing and modernising the cross-border payment with the region. I firmly believe that the partnership between Alipay+ and Bakong’s KHQR network would elevate financial cooperation by leveraging technology to benefit the customers, and is one of the most impactful developments in supporting the country’s digitalisation journey and helping merchants capture new opportunities in the evolving landscape.”
Edward Yue, General Manager for Southeast Asia, Australia and New Zealand, Ant International said, “We thank the National Bank of Cambodia for their visionary leadership in digitalising local merchants and the travel ecosystem, which will not only enhance the travel experience for global consumers, but will also enable more local businesses to benefit from the strong tourism recovery. As more ‘travel like a local’ using just their home payment apps, the local economy and community will flourish in tandem, offering more localised experiences and building a more vibrant ecosystem for all.”
Alipay+ connects users to over 90 million merchants across 66 markets globally, including popular travel destinations such as China, Japan, Southeast Asia, Europe, and more.
This article was first published on Fintech News Singapore.
=FRESH NEWS
