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Cambodia, Malaysia launch phase 2 of cross-border QR payment system


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The National Bank of Cambodia (NBC) and Bank Negara Malaysia (BNM) officially launched Phase 2 of their cross-border QR payment system on April 8, aiming to improve digital payment options for citizens of both countries. The launch took place during the ASEAN Finance Ministers’ and Central Bank Governors’ Meetings in Kuala Lumpur.

The system enables Malaysians to scan Cambodian QR codes using their mobile banking apps, and vice versa for Cambodians in Malaysia, promoting faster and more convenient payments. Over seven million local merchants in both countries stand to benefit from increased cross-border transactions.

NBC Governor Chea Serey highlighted three major impacts:

  1. Tourism – frictionless payments for travelers,

  2. Financial inclusion – connecting SMEs and individuals to wider markets,

  3. Regional integration – contributing to ASEAN’s digital connectivity goals.

BNM Governor Dato’ Seri Abdul Rasheed Ghaffour emphasized that the initiative advances ASEAN’s financial integration and supports inclusive, instant cross-border payments.

The system was developed in collaboration with partners including Maybank and PayNet, and reflects both countries’ commitment to fostering a secure and inclusive digital economy. (Summarized using ChatGpt.com)

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