Cambodia, Thailand Working on QR Code Payment System

Cambodia and Thailand are working on QR Code payment system to strengthen the use of their respective national currencies in cross-border transactions.

The QR code payment system, which is part of the cooperation on financial services between the two neighbouring countries, was discussed in a meeting in Bangkok, Thailand early this week between H.E. Ms. Chea Serei, Director General of Central Banking of the National Bank of Cambodia (NBC), and H.E. Ms. Chantavarn Sucharitakul, Assistant Governor of the Bank of Thailand.

According to NBC, for the first stage, QR code system will be used for general payments and for the next step it will cover those of both nations' tourists, then money transfer of migrant workers and payments in trade and investment transactions.

QR code payment system will help ease transactions with low costs and high safety as well as to promote the use of Riel, Cambodian national currency, in line with the Riel promotion policy of NBC and the Royal Government of Cambodia, it underlined.

Source: Agency Kampuchea Press