Cambodia enables cross-border QR code payments via UnionPay

Cambodians need only to scan the UnionPay QR Code to pay.

The National Bank of Cambodia (NBC) and UnionPay International (UPI) have officially launched phase two of Bakong cross-border payments.

Cambodians are now able to make cross-border payments by scanning the UnionPay QR Code in China and other countries, and the QR Code of WeChat Pay.

Cambodia’s central bank expects the move to enhance trade, boost tourism, facilitate cross-border payments and remittances, and promote the use of local currency and financial inclusion.

H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia presided over the launch.

Also in attendance are Larry Wang, CEO and Deputy Chairman of UPI; Ho Wai Man, General Manager of Bank of China Credit Card (International) Ltd; and representatives of the Chinese Embassy in Cambodia.

Also present are representatives from the Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA), Cambodian Association of Finance and Technology (CAFT), international payment network companies and banking and microfinance institutions.