After six months of launching the first phase, the National Bank of Cambodia (NBC) and the Bank Negara Malaysia (BNM) yesterday officially launched the second phase of their cross-border payment linkage, allowing travellers to make payments by scanning QR codes using the Bakong and DuitNow applications.
The ‘Cross-border QR Payment Linkage between Malaysia and Cambodia – Phase 2’ was presided over by Chea Serey, Governor of NBC, and Dato’ Seri Abdul Rasheed Ghaffour, Governor of BNM, in Kuala Lumpur, Malaysia.
Addressing the ceremony, the BNM Governor said, “Greater financial integration within ASEAN is now becoming more of a reality. In line with Malaysia’s ASEAN chairmanship, we are pleased to advance the vision of enhanced payment connectivity within the region through the latest phase of this QR payment linkage.”
Ghaffour added that many ASEAN small businesses and individuals are set to reap the benefits of instant cross-border QR payments. We will continue to widen our reach with regional and international partners to foster an inclusive and safe payment connectivity network.
Serey highlighted that this advancement not only simplifies cross-border payment transactions but also unlocks immense potential for mutual benefits.
Firstly, it enhances the tourism sector by providing Malaysian travelers with seamless payment options while visiting Cambodia.
Secondly, promote financial inclusion by connecting small and medium-sized enterprises (SMEs) and individuals to a wider economic network.
Thirdly, it also contributes to regional integration by furthering ASEAN’s vision of a digitally interconnected community.
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Source: Khmer Times
April 17, 2025
