The National Bank of Cambodia (NBC) is working with Thai authorities to promote the use of KHQR more broadly between the two countries, a move that would encourage cross-border cashless payment.
KHQR is a universal quick response (QR) code system created for retail payments in the Kingdom and cross-border payments within the ASEAN bloc, according to the central bank.
NBC assistant governor and director-general Chea Serey told The Post on July 17 that both central banks launched the cross-border QR payment in February 2020. However, as an unintended consequence of Covid-19 border restrictions, the volume of KHQR code-based transactions has remained limited, she said.
Presently, transactions can only be done between ACLEDA Bank Plc and Siam Commercial Bank (SCB) clients, she added.
“It is not universal yet. But, currently we are in discussion to allow all KHQR users to use their…