Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC) have officially launched Phase 2 of the cross-border QR payment linkage between Malaysia and Cambodia. With this, Malaysian travellers can make seamless payments to Cambodian merchants by scanning the KHQR code using mobile payment apps from participating financial institutions.
According to BNM, the initiative will enable over seven million merchants in both countries to tap into a broader customer base, bringing economic advantages to both countries. Travellers can also benefit from instant, hassle-free cross-border transactions using their native payment apps. Meanwhile, Cambodian visitors to Malaysia can continue to pay by scanning Malaysia’s DuitNow QR via the Bakong app, a feature first introduced in Phase 1 in September last year.
BNM Governor Dato’ Seri Abdul Rasheed Ghaffour and NBC Governor H.E. Dr. Chea Serey highlighted the benefits of the new cross-border QR payment linkage between Malaysia and Cambodia, aligning with Malaysia’s ASEAN Chairmanship goals. They said the initiative would enhance financial integration, promote instant payments for small businesses and individuals, and strengthen regional ties.
BNM and NBC both revealed to work closely with local partners to enable the bilateral QR payment linkage. The partners include Maybank as the sponsoring and settlement bank, Payments Network Malaysia (PayNet), and participating financial institutions from both countries.
(Source: BNM press release)
