Visitors from China May Now Pay Cambodian Retailers Using QR Codes

Jan 02, 2024 - Views: 507

Rating: 4.9 - 50Votes

In partnership with UnionPay International (UPI), the National Bank of Cambodia (NBC) has introduced a novel cross-border QR code payment system. 

Recently, Wang Wentian, the Chinese ambassador to Cambodia, and Chea Serey, the governor of the National Bank of Cambodia, participated in a virtual ceremony to officially launch this new platform.

UnionPay cardholders may now scan KHQR codes with their UnionPay-enabled wallets, such as the UnionPay app and other commercial bank applications that allow UnionPay QR Code payment, thanks to the new payment mechanism. 

This makes purchases at almost 1.8 million retailers in Cambodia easier and more smooth. 

Chinese visitors can make QR payment to Cambodian merchants

Chinese visitors can make QR payment to Cambodian merchants

Serey emphasized that this method greatly improves the effectiveness and ease of payments for visitors from outside Cambodia.

Beginning in early 2024, Cambodian residents will be able to make payments at UnionPay-accepting stores both in China and abroad using their Bakong wallets. It is anticipated that this development will enhance the experience of mobile payments for Cambodians visiting other countries.

NBC and UPI's relationship is seen as a major step toward improving financial cooperation between the two organizations.

It promotes trade, tourism, and financial inclusion in Cambodia by utilizing technology to the advantage of users domestically and internationally. 

With the introduction of successful QR code payment initiatives with Thailand, Laos, and Vietnam, this initiative is a part of NBC's larger drive to facilitate cross-border payment relationships.

Read more: Digitizing Digital Accessibility with Accessible QR Codes

Rating: 4.9 - 50Votes

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