Alipay+ launches KHQR to facilitate cross-border payments into Cambodia

By Gloria Mathias

The National Bank of Cambodia and Ant International have launched cross-border QR code payments between the National Bank of Cambodia’s Bakong payment system and Ant International’s Alipay+.

With this initiative, Alipay+ partner users of 12 international payment apps, including Alipay (Chinese mainland), AlipayHK (Hong Kong SAR), Touch ‘n Go eWallet and MyPB by Public Bank Berhad (Malaysia), GCash (the Philippines), Kakao Pay, Toss Pay (South Korea), OCBC and Changi Pay (Singapore), Hipay (Mongolia), MPay (Macao SAR) and Tinaba (Italy), will be able to seamlessly make payments in Cambodia by scanning KHQR codes.

This will facilitate the payment for goods and services to businesses in Cambodia with accounts denominated in Cambodian riels.

H.E. Dr. Chea Serey, Governor of the National Bank of Cambodia, said, “I firmly believe that the partnership between Alipay+ and Bakong’s KHQR network would elevate financial cooperation by leveraging technology to benefit the customers and is one of the most impactful developments in supporting the country’s digitalisation journey and helping merchants capture new opportunities in the evolving landscape.”

KHQR, launched by the National Bank of Cambodia and operated by Bakong, was created for retail payment in Cambodia and cross-border payment within ASEAN countries. It only requires a single QR to receive payment through any mobile banking app of Bakong members, including the Bakong App, making QR payment simple for both customers and merchants in Cambodia.

Edward Yue, General Manager for Southeast Asia, Australia, and New Zealand, Ant International, shared, “We thank the National Bank of Cambodia for their visionary leadership in digitalising local merchants and the travel ecosystem, which will not only enhance the travel experience for global consumers but will also enable more local businesses to benefit from the strong tourism recovery. As more people ‘travel like a local’ using just their home payment apps, the local economy and community will flourish in tandem, offering more localised experiences and building a more vibrant ecosystem for all. We will continue to work closely with regulators, merchants, and other industry partners to create a new future of cross-border payments and travel.”