Thursday, May 23, 2024
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Home » Cambodia, Vietnam Launch Cross-border QR Code Payments

Cambodia, Vietnam Launch Cross-border QR Code Payments

by Ulani Louangrath
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Cambodia and Vietnam on Sunday launched bilateral cross-border QR code payments, enabling the people of both countries to scan QR to make payments using their local currencies.

National Bank of Cambodia (NBC) governor Chea Serey and State Bank of Vietnam’s governor Nguyen Thi Hong presided over the launching event held in northwest Cambodia’s Siem Reap province, according to an NBC news release.

“This project will promote digital payment, the usage of national currency, and boost economic growth, tourism and cross-border trade between Cambodia and Vietnam,” the news release said.

It added that Cambodians and Vietnamese, especially tourists and merchants, are expected to benefit from this project.

Under the project, Cambodian travelers will be able to make payments in Vietnam in riel via the VietQR code, while Vietnamese customers can make payments in Cambodia in the Vietnamese dong via the KHQR code.

Besides neighboring Vietnam, Cambodia also makes bilateral cross-border QR code payment cooperation with its neighboring Thailand and Laos.

Source: Xinhua

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