By Alimat Aliyeva
Cambodia and Singapore have officially launched the first phase
of their cross-border QR code payment connection, according to a
press release from the National Bank of Cambodia (NBC),
Azernews reports, citing foreign media.
The launch event was presided over by NBC Governor Chea Serey on
the sidelines of the Singapore FinTech Festival 2025 on
Wednesday.
“With Phase 1, Cambodian travelers visiting Singapore can now
make payments conveniently, quickly, and securely using the Bakong
app or other mobile banking applications by scanning RoamQR codes
at SGQR-enabled merchants across the country,” the press release
stated. The initiative allows payments in Khmer Riel, promoting the
use of local currencies and removing the need for physical currency
exchanges or payment cards, while enabling real-time
transactions.
The project is seen as a major step forward in enhancing trade,
investment, and tourism between Cambodia and Singapore, supporting
their shared goal of sustainable economic growth. It also aligns
with the vision of an inclusive and interoperable ASEAN payment
ecosystem, fostering stronger regional financial integration.
So far, Cambodia has launched cross-border payment projects with
Thailand, Vietnam, Laos, South Korea, Malaysia, Japan, Singapore,
and UnionPay International, highlighting the country’s commitment
to digital payment innovation and regional connectivity.
Experts note that cross-border QR payments not only simplify
transactions for travelers but also boost small businesses and
local merchants, as they can receive international payments
instantly without relying on complex banking infrastructure. This
innovation could serve as a model for other ASEAN nations aiming to
modernize their financial systems.