Southeast Asia Information Port (www.dnyxxg.com) – The National Bank of Cambodia and the Central Bank of Malaysia officially announced the launch of a QR code payment system between the two countries on the morning of the 19th, operated by Maybank.
National Bank of Cambodia Governor Chea Siree stated that this cross-border payment initiative is significant in promoting trade between the two countries and improving the financial environment, marking an important step towards realizing the ASEAN Economic Community's vision of a fast, efficient, and secure cross-regional retail payment system.
She said that Cambodia has already officially launched cross-border payments in countries such as Thailand, Vietnam, Laos, China, and South Korea, and plans to expand to other countries to facilitate travel for its citizens and make payments for tourists from partner countries within Cambodia.
Farhan Ahmad, CEO of PayNet Group of Malaysia, a partner in the project, said, “PayNet is delighted to welcome Cambodia as a partner in our ASEAN digital payments connectivity project. From now on, travelers from Cambodia will be able to make payments easily and securely in Malaysia.”
He added that by connecting Cambodian tourists with approximately 2 million DuitNow QR merchants in Malaysia, tourism and trade activities within ASEAN are expected to be further facilitated and accelerated.
It is worth noting that the cross-border payment system between Cambodia and Malaysia is the result of strong cooperation between the two countries. This cooperation began in 2021 when the National Bank of Cambodia and Malayan Banking launched the first cross-border remittance service by connecting Malayan Banking's system to the Bakong system.
