Cambodia, Chinese technology giant launch cross-border QR payment initiative

Phnom Penh (VNA) –The National Bank of Cambodia (NBC) and Chinese technology giant Weixin Pay have officially launched Phase 1 of a cross-border QR payment initiative, allowing Weixin Pay users, commonly known as WeChat Pay users, to scan KHQR codes in Cambodia, the Khmer Times reported.

The official launch ceremony was held on August 18, chaired by NBC Governor Chea Serey and Managing Director of Weixin Pay for the Southeast Asia, North America and Latin America regions Ben Yanga. The launch of the cross-border QR payment initiative marks a significant step forward in strengthening existing payment cooperation between the two countries.

The initiative enables Weixin Pay users to scan KHQR codes in Cambodia, facilitating seamless transactions between Cambodia and China through the Weixin Pay payment network.

Speaking at the ceremony, Chea Serey said the initiative delivers two strategic benefits. First, for international visitors using Weixin Pay, particularly Chinese tourists, it provides a familiar, secure and instant payment experience, eliminating the inconvenience of currency exchange and reducing reliance on cash or traditional cards. Second, for domestic businesses, ranging from major hotels and restaurants to micro-, small- and medium-sized enterprises (MSMEs), merchants can now reach a broader international customer base through the existing KHQR system without incurring excessive operating costs.

For his part, Ben Yang stressed that the initiative is more than a convenience feature for travellers. It represents a step forward in cross-border payment interoperability, with a focus on local-currency payments, regulatory transparency and digital transformation for businesses./.

VNA