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navigate_nextMedianavigate_nextOur Newsnavigate_nextOfficially Launches Cross-Border QR Payment between Cambodia and Vietnam
Officially Launches Cross-Border QR Payment between Cambodia and Vietnam
December 3, 2023
Siem Reap, 03 December 3, 2023 – The National Bank of Cambodia and the State Bank of Vietnam have announced the official launch of a Cross-Border QR payment system between the Kingdom of Cambodia and the Socialist Republic of Vietnam in order to ease goods and services payment and to promote the wide use of KHR currency and financial inclusion in ASEAN region in line with integration of ASEAN Economic Community (AEC).
Dr. In Channy, President & Group Managing Director of ACLEDA Bank Plc., said that "after ACLEDA Bank successfully launched Cross-Border QR Payment between the Kingdom of Thailand and Kingdom of Thailand, ACLEDA Bank continues to expand the cross-border QR payment system with two more ASEAN countries including the Lao People's Democratic Republic and the Socialist Republic of Vietnam after getting the permission from National Bank of Cambodia (NBC). With the Cross-Border QR Payment between the Socialist Republic of Vietnam and the Kingdom of Cambodia, ACLEDA Bank and Bank for Investment and Development of Vietnam (BIDV) have been chosen as the Sponsoring Bank for Cross-Border Payment via QR Code in Cambodia and Vietnam in order to ease goods and services payment, to promote the wide use of KHR for settlement in local region and financial inclusion in line with integration of ASEAN Economic Community (AEC)."
He added that "Cambodia and Vietnam now enjoy convenient, fast, and secure QR code transactions. A bank customer with a Khmer Riel account in Cambodia traveling to Vietnam can pay for goods or services using their Cambodian Bank's mobile banking application or Bakong App by just tapping on the QR function, scanning the Viet QR Code of a Vietnamese merchant. Similarly, a bank's customer in Vietnam traveling to Cambodia can also pay for goods or services through KHQR by opening their mobile banking application of a Vietnamese Bank, scanning the merchant's KHQR in Cambodia."
About ACLEDA Bank Plc.
Currently, ACLEDA Bank Plc., has 4 subsidiaries, they are ACLEDA Institute of Business, ACLEDA Securities Plc., ACLEDA Bank Lao Ltd., and ACLEDA MFI Myanmar Co., Ltd. as well as representative offices in the Republic of the Union of Myanmar. By the end of September 2023, ACLEDA Bank had US$9.40 billion in total assets, US$6.57 billion in total credit balances, and US$6.92 billion in total savings deposits with over 4.43 million customers. As the end of September 2023, the Bank has 3.13 million subscribers of ACLEDA Mobile and 311,166 million business partners.
