National Bank of Cambodia and AliPay Connect Pte.  Ltd. Signed a Memorandum of Understanding (MoU) on "Cross-Border Payment Cooperation via Qur Code" signed directly by HE Dr. Chea Serey, Governor of the National Bank of Cambodia and Mr. Douglas Feagin,  Senior Vice President of Ant Group on November 15, 2023  during the Singapore Financial Technology Event 2023 in Singapore.

This Memorandum of Understanding aims to promote cross-border payment transactions via QR Code between KHQR Code network of Bakong system and AliPay QR Code network efficiently and securely. Through this collaboration, Bakong users can make payments with 83 million Alipay merchants worldwide.

Similarly, international tourists visiting Cambodia can also make payments through the KHQR system easily and get a better payment experience in Cambodia to contribute to better economic growth. It should be reminded that Cambodian traders must have an account in riel and accept riel. At the same time, Lok Chumteav Bandith requested all banking institutions to encourage their traders to open riel accounts and make payments in riel to get the most benefits from this system.

Source : https://www.thekhmertoday.com/news/detail/450