Phnom Penh (FN), Mar. 11 – The National Bank of Cambodia officially launched Phase 2 of its cross-border QR code payments on 10 March 2025, allowing Cambodians to use their payment cards and mobile banking apps to scan QR codes at merchants accepting UnionPay payments in China and other partner countries.

The official launch of Phase 2, in collaboration with the international payment card network UnionPay International, was attended by Chea Serey, Governor of the National Bank of Cambodia.

"In support of the announcement that 2025 is the Cambodia-China Tourism Year, the National Bank of Cambodia officially launched the second phase of cross-border QR code payments, UnionPay Scan. With this development, Cambodians can use their own QR code payment apps and mobile banking apps to scan QR codes at merchants accepting UnionPay in China and other partner countries," said Chea Serey.

She added that this collaboration will significantly enhance the payment experience for Cambodians, making international payment transactions more convenient and efficient.

Larry Wang, CEO of UnionPay International, stated, “We are very pleased with the collaboration between the Bakong system and UnionPay, which confirms the successful integration of the Bakong system for cross-border payments following the official launch of the first phase of the cross-border QR code payment.”

He added that the official launch of the second phase of the cross-border QR code payment allows users of the Bakong payment app or mobile banking apps to make QR code scanning transactions in China and other partner countries. This development will significantly increase the availability of financial services and contribute to the growth of the digital payment system in Cambodia.

It is worth noting that the collaboration between the National Bank of Cambodia and UnionPay International on the development of cross-border payments has shown significant progress since the launch of the first phase of cross-border QR code payments, with UnionPay scanning KHQR codes on 22 December 2023.

For the launch of the second phase of cross-border QR code payments, the UnionPay Bakong scanning enables cross-border payment transactions using the Bakong system, allowing Cambodians to make payments by scanning QR codes in China and other countries through UnionPay International’s operational network.

This initiative to develop cross-border payments will provide opportunities to expand trade activities, promote tourism, and increase cross-border payments and remittances. It will also contribute to promoting currency usage and improving the financial environment to support sustainable economic growth.
=FRESH NEWS