Cambodia launches cross-border QR payments with Alipay+

The payments will occur between NBC's Bakong payment system and Ant International's Alipay+, a platform for cross-border mobile payments and digital solutions. This initiative will allow users of 12 international payment apps, including Alipay, AlipayHK, Touch 'n Go eWallet, GCash, Kakao Pay, and others, to make seamless payments to over one million merchants in Cambodia by scanning KHQR codes. This will support payments in Cambodian riels for goods and services.

The partnership is part of NBC’s ongoing efforts to modernize cross-border payments and strengthen financial cooperation within the region. Bakong, which launched KHQR in July 2022, facilitates retail payments in Cambodia and cross-border transactions within ASEAN. The system simplifies payments by enabling merchants to accept payments through various mobile banking apps with a single QR code.

The governor of the National Bank of Cambodia stated that the collaboration between Alipay+ and Bakong’s KHQR network enhances the country’s digitalization efforts and opens new opportunities for merchants. Ant International’s General Manager for Southeast Asia, Australia, and New Zealand emphasized that the initiative would improve the travel experience for international consumers while benefiting local businesses, particularly amid the ongoing recovery of the tourism sector.

Building on trust

This cross-border payment collaboration builds on a Memorandum of Understanding signed in November 2023 at the Singapore FinTech Festival, aimed at enhancing QR code payment cooperation between Cambodia and Ant International. Beyond Cambodia, Alipay+ has established partnerships with standardized QR code payment systems in Singapore, Malaysia, South Korea, Nepal, and Sri Lanka. Globally, Alipay+ connects over 30 international payment partners to more than 90 million merchants across 66 markets, including major travel destinations such as China, Southeast Asia, and Europe.

Alipay+ serves as a platform that helps global merchants connect with consumers, offering seamless payment experiences and digital tools to support the growth of small and medium-sized businesses.