The National Bank of Cambodia (NBC) has joined the Regional Payment Connectivity (RPC) initiative, bringing the total number of ASEAN central bank signatories to nine: Brunei, Malaysia, Cambodia, Laos, Thailand, Singapore, Philippines, Vietnam, and Indonesia. The RPC aims to enable faster, cheaper, more transparent, and inclusive cross-border payments, supporting SMEs, trade, and remittances across member countries. For Cambodia, this strengthens financial integration in the region and expands access for local users and businesses.
Cambodia-Malaysia Cross-Border QR Collaboration
As part of this effort, NBC and Bank Negara Malaysia have launched Phase 2 of the cross-border QR payment linkage. Malaysian travellers can now scan KHQR to pay Cambodian merchants using mobile apps like DuitNow and Bakong. (Phase 1 details in Aquarii’s Connecting Dots, September 2024 Edition). In parallel, Malaysia’s TNG Digital has expanded its TNG eWallet to enable payments by Cambodian tourists in Malaysia.
Cambodians can also make cross-border payments in Thailand, Vietnam and Laos by scanning QR codes in Khmer Riel (KHR), without needing to convert to US dollars. This supports NBC’s efforts to promote use of the national currency regionally and reduce transaction costs.
Cambodia-Japan to Launch Cross-Border QR Payment Linkage
Separately, NBC has signed an MoU with Japan’s Payments Japan Association (PJA) to enable QR payments between KHQR and JPQR, following a two-phase rollout similar to Malaysia’s:
• Phase 1: April 13 to October 13, 2025
• Phase 2: By the end of 2025
This initiative will enhance Cambodia–Japan financial cooperation and is expected to promote trade, investment, and tourism, supporting economic growth in both countries.
Source:
• Cambodian, Malaysian travellers can now make payments via QR scan | Khmer Times (khmertimeskh.com)
• Cambodia, Japan launch cross-border payment collaboration| Khmer Times (khmertimeskh.com)