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navigate_nextMedianavigate_nextOur Newsnavigate_nextExpansion of KHR Cross-Border Payments by QR Code in the ASEAN Region
Expansion of KHR Cross-Border Payments by QR Code in the ASEAN Region
September 1, 2022
Phnom Penh, September 1, 2022 - ACLEDA Bank Plc. "The bank you can trust, the bank for the people" has announced that ACLEDA Bank Plc. has been chosen as the Sponsoring Bank for KHR cross-border payments via QR code with ASEAN neighboring countries including the Socialist Republic of Vietnam and the Lao People's Democratic Republic in addition to KHR cross-border payment via QR code in the Kingdom of Thailand which have been launched since February 2020 in order to promote the wide use of KHR for settlement in ASEAN region and financial inclusion in line with integration of ASEAN Economic Community (AEC).
Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said that "With the readiness of financial technology designed and workable, the National Bank of Cambodia (NBC) has selected the ACLEDA Bank as a Sponsoring Bank for KHR cross-border settlement and payment via QR code in the Socialist Republic of Vietnam and the Lao People's Democratic Republic aiming at promoting the broad use of KHR in ASEAN region and ASEAN financial inclusion in line with the integration of ASEAN Economic Community (AEC)".
He added that, in February 2020, ACLEDA Bank Plc. and Siam Commercial Bank (SCB) were selected as sponsoring banks to engage in business cooperation relating to QR cross-border payment for ACLEDA Bank's customers and Cambodian people making the KHR payment in Thailand through scanning QR code. At the end of 2022, the customers and Thai people can make THB settlement and payment in Cambodia via scanning QR code.
In addition to the current KHR cross-border payment through QR code in Thailand, ACLEDA Bank has cooperated with the relevant institutions to proceed to make the KHR cross-border payment via QR code in the Socialist Republic of Vietnam and the Lao People's Democratic Republic which is projected to be launched at the end of 2022.
The next step, ACLEDA Bank plans to collaborate with other countries which are the members of ASEAN to broadly use KHR for settlement and payment via QR code in order to facilitate payment, reduce cost and promote ASEAN financial inclusion.
