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Cambodia Joins Regional Payment Connectivity Initiative

 

 The National Bank of Cambodia (NBC) has officially joined the Regional Payment Connectivity (RPC) initiative, strengthening efforts to enhance financial integration in Southeast Asia. The announcement was made on April 8, 2025, during the launch of Phase 2 of the Malaysia-Cambodia cross-border QR payment linkage, at the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting in Kuala Lumpur.

With Cambodia's inclusion, the RPC now includes nine ASEAN central banks. Originally launched in 2022 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand, the initiative has since grown to include Vietnam, Brunei, Lao PDR, and now Cambodia.

The RPC aims to promote faster, cheaper, and more inclusive cross-border payments through QR code payments and fast payment systems. It is expected to support SMEs, enhance trade facilitation, and improve remittance flows, contributing to deeper regional economic integration. (Summarized using ChatGpt.com)

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