admin Cambodia has taken a significant step towards enhancing its digital payment landscape by integrating Alipay+ with its national QR code system, KHQR. This move allows users of 12 international payment platforms, including Alipay, GCash, and Touch ‘n Go, to make seamless payments at over one million merchants throughout the country. With more merchants set to be added progressively, this expansion aims to further streamline payments for both tourists and locals, offering a more accessible and convenient way to complete transactions.
The integration supports payments in Cambodian riels, making it easier for users to purchase goods and services while utilising their preferred payment apps. This initiative is part of the broader Bakong payment system, which was introduced by the National Bank of Cambodia in 2022. KHQR simplifies the payment process by offering a standardised QR code that works with multiple mobile banking apps, removing the need for separate systems for different platforms.
Strengthening Cross-Border Payments
The partnership between Alipay+ and Cambodia’s KHQR system not only boosts domestic payment efficiency but also marks a significant advancement in cross-border transactions within the ASEAN region. This collaboration follows a memorandum of understanding signed during the Singapore Fintech Festival 2023, further cementing the National Bank of Cambodia’s commitment to modernising and digitising financial systems.
H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, emphasised the importance of this integration, noting that it would support the country’s digitalisation efforts and open new opportunities for local merchants to reach a broader audience. She highlighted that such technological advancements would help Cambodia stay ahead in a rapidly evolving financial landscape.
Edward Yue, General Manager of Southeast Asia for Ant International, echoed these sentiments, praising Cambodia’s leadership in digitising its payment systems and enhancing the travel experience. The integration will not only benefit local businesses but also allow global tourists to make payments more easily, contributing to the country’s growing tourism sector and local economy.
With this new initiative, Cambodia is positioning itself as a leader in digital payments in the region, providing a more connected, accessible, and efficient financial system.
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