• My Saves
  • My Feed
  • My Interests
  • Advertise
  • Governing Body
  • From The Founder's Desk
  • Contact Us
The Better Cambodia
  • News
    NewsShow More
    Hun Manet Praises Technological Progress of Cambodian Youth During Visit to Japan
    Hun Manet Praises Technological Progress of Cambodian Youth During Visit to Japan

    (Tokyo) — Cambodian Prime Minister Hun Manet has praised the rising technological…

    By
    TBC
    Hun Manet and Ishiba Shigeru Reaffirm Comprehensive Cambodia–Japan Partnership
    Hun Manet and Ishiba Shigeru Reaffirm Comprehensive Cambodia–Japan Partnership

    Phnom Penh, May 31, 2025 — During an official visit to Japan…

    By
    TBC
    Kampong Speu to Host Mountain Bike Challenge 2025 Featuring New XCM Marathon Discipline
    Kampong Speu to Host Mountain Bike Challenge 2025 Featuring New XCM Marathon Discipline

    Kampong Speu, Cambodia – May 31, 2025 — Kampong Speu province is…

    By
    TBC
    Cambodia and Japan Launch Comprehensive Economic Co-Creation Package
    Cambodia and Japan Launch Comprehensive Economic Co-Creation Package

    Phnom Penh, Cambodia — Cambodia and Japan have unveiled a comprehensive Economic…

    By
    TBC
    Cambodia to Host 2nd Badminton Asia Southeast Asia Regional Championships in July
    Cambodia to Host 2nd Badminton Asia Southeast Asia Regional Championships in July

    Phnom Penh, May 29, 2025 – Cambodia is set to host the…

    By
    TBC
  • Editors Pick
    Editors PickShow More
    Cambodia’s Trade Resilience: Turning U.S. Tariff Hikes into Regional Growth Opportunities
    Cambodia’s Trade Resilience: Turning U.S. Tariff Hikes into Regional Growth Opportunities

    On April 2, 2025, U.S. President Donald Trump announced sweeping tariff increases…

    By
    Surya Narayan
    Cambodia’s Rise as a Manufacturing and Investment Hub: A Global Perspective

    In recent years, Cambodia has emerged as a preferred destination for manufacturing…

    By
    Surya Narayan
    Cambodia’s Commitment to Environmental Sustainability

    Cambodia is taking remarkable strides towards environmental conservation, as demonstrated by the…

    By
    Surya Narayan
    Building Cambodia’s Future: The Case for a Sovereign Wealth Fund Like Temasek Holdings

    Singapore’s economic success story is a reflection of visionary leadership, strategic investment,…

    By
    Jas Sohl
    Kampot-Kep Salt – Cambodia’s Natural Treasure

    In the coastal provinces of Kampot and Kep, salt harvesting has been…

    By
    Surya Narayan
  • Stories
    StoriesShow More
    The Timeless Tale of Vorvong and Sorvong: A Glimpse into Khmer Folklore

    The epic Khmer folklore of Vorvong and Sorvong stands out, weaving a…

    By
    Surya Narayan
    Empowering Cambodian Youth: Anjali House’s Mission to Shape Futures

    In the heart of Siem Reap, Anjali House, a community learning center…

    By
    Nadalena DeJulio
    Life’s Journey: A Bike Ride Around Tonle Sap Lake

    In a remarkable display of strength and determination, Pheak Keo embarked on…

    By
    Surya Narayan
    Phare Creative Studio: 15 Years of Cambodian Creations for Social Good

    Phare Creative Studio (PCS) is a social business that has been operating…

    By
    Surya Narayan
    Dieng Dorm: The Muffin Man of Siem Reap

    Have you ever heard of the Muffin Man, SiemReap? He lives in…

    By
    Pisey Roeurm
  • Business
    BusinessShow More
    Starbucks Isn’t Just Brewing Coffee It’s Running a Bank in Disguise

    When you think of Starbucks, you probably imagine friendly baristas, cozy interiors,…

    By
    Surya Narayan
    PM Hun Manet Reinforces Pro-Business, Pro-Environment Agenda at Ford Plant Opening

    PURSAT, April 22 – Cambodian Prime Minister Samdech Thipadei Hun Manet reiterated…

    By
    TBC
    Cambodia’s Economy to Grow by 6.1% in 2025 and 6.2% in 2026, Says ADB Report
    Cambodia’s Economy to Grow by 6.1% in 2025 and 6.2% in 2026, Says ADB Report

    Phnom Penh, Apr. 9 – Cambodia’s economy is set to maintain a…

    By
    TBC
    EU and IFAD Announce €80 Million Investment to Modernise Cambodia’s Agricultural Sector
    EU and IFAD Announce €80 Million Investment to Modernise Cambodia’s Agricultural Sector

    The European Union (EU), in collaboration with the European Investment Bank (EIB)…

    By
    TBC
    Cambodia’s Rise as a Manufacturing and Investment Hub: A Global Perspective

    In recent years, Cambodia has emerged as a preferred destination for manufacturing…

    By
    Surya Narayan
  • Opinion Piece
    Opinion PieceShow More
    How Cambodian Entrepreneurs Can Successfully Set Up a Business in the United Kingdom, A Strategic Guide to Growth and Bilateral Benefits

    The United Kingdom continues to be a global leader in business, innovation,…

    By
    Jas Sohl
    Cambodia’s Trade Framework: A Gateway to Global Markets

    Over the past two decades, Cambodia has methodically established a robust regulatory…

    By
    Jas Sohl
    Cambodia’s Cashew Industry, A Future of Growth and Prosperity

    Cambodia’s agricultural sector is experiencing a strong rise in cashew production, making…

    By
    Jas Sohl
    INDO-PACIFIC IN SHARP FOCUS

    Conventional wisdom among scholars and diplomats is that the world cannot afford…

    By
    Dr Mohan Kumar
    The Role of Motivation and Dedication in Buddhist Practice: A Path to Spiritual Growth

    Every human life is seen as a precious opportunity, rich with the…

    By
    Samheng Boros
  • Press Release
    Press ReleaseShow More
    ASEAN Forum Honours OCIC, Pung Kheav Se, and Thierry Tea for Outstanding Business Impact and Leadership
    ASEAN Forum Honours OCIC, Pung Kheav Se, and Thierry Tea for Outstanding Business Impact and Leadership

    May, 2025, Kuala Lumpur, Malaysia â€” At the ASEAN Leadership & Partnership Forum 2025 in…

    By
    TBC
    Wing Bank Wins Awards for Digital Finance and Social Impact

    Wing Bank Sets a New Standard in Digital Finance and Social Impact,…

    By
    TBC
    Cambrew LTD Launches first ever Carlsberg Official Store on Wingmall, Expanding Digital Retail Presence in Cambodia
    Cambrew LTD Launches first ever Carlsberg Official Store on Wingmall, Expanding Digital Retail Presence in Cambodia

    Cambrew Ltd., part of the Carlsberg Group and one of the leading…

    By
    TBC
    A Cambodian Business Story and the Impact of Pung Kheav Se
    A Cambodian Business Story and the Impact of Pung Kheav Se

    Pung Kheav Se is known as one of Cambodia’s most prominent private…

    By
    TBC
    Grab Partners with Executive Auto to Elevate Ride Experience with High-End Vehicles
    Grab Partners with Executive Auto to Elevate Ride Experience with High-End Vehicles

    Phnom Penh, Cambodia – Grab Cambodia is proud to announce its partnership…

    By
    TBC
  • 🔥
  • Invest In Cambodia
  • Unsung Heroes/ Impact
  • The Better Asia
  • Agriculture
  • Technology
  • Places to Visit
  • Sustainability
Font ResizerAa
The Better CambodiaThe Better Cambodia
Search
  • Home
  • Stories
  • News
  • Startups
  • Cambodian Brands
  • Unsung Heroes/ Impact
  • Sustainability
  • Artisans of Cambodia
  • Invest In Cambodia
  • Guests Posts
  • The Better Asia
  • Governing Body
  • From The Founder’s Desk
  • Contact us
Have an existing account? Sign In
Follow US
  • My Saves
  • My Interests
  • My Feed
© 2025 TBC Media. All Rights Reserved.
The Better Cambodia > Blog > News > CNBC Expands Bakong Mobile Payment App to China and India for Enhanced Cross-Border Transactions
News

CNBC Expands Bakong Mobile Payment App to China and India for Enhanced Cross-Border Transactions

Surya Narayan
Last updated: January 29, 2024 3:23 am
Surya Narayan
101 Views
Share
3 Min Read
SHARE

The National Bank of Cambodia (NBC) is set to extend the reach of its innovative mobile payment application, Bakong, to China and India within this year, aiming to facilitate easier cross-border transactions using local currencies. This strategic move follows the successful integration of payment systems between Cambodia and its neighboring countries, Thailand, Vietnam, and Laos, alongside collaborations with several international payment service providers.

NBC Governor Chea Serey announced the plans, highlighting the potential for Cambodian users to make payments via QR Code directly from their Riel accounts at a multitude of stores across these nations. This initiative is expected to significantly simplify payment processes for both Cambodians and international users within the expanding network, promoting seamless transactions within Cambodia.

During NBC’s recent annual meeting, which focused on evaluating the achievements of 2023 and setting goals for 2024, the development and progress of payment systems were key topics. The advancements in this area have been praised for making financial transactions more straightforward, secure, and efficient, thereby eliminating the hurdles of cross-institutional payments and excessive fees.

The enhanced payment infrastructure has been instrumental in fostering the exchange of goods and services, enriching the financial landscape, and encouraging the adoption of the Cambodian Riel. These efforts align with the Royal Government’s ambitions to advance the nation’s digital economy and social development initiatives.

- Advertisement -

Furthermore, the strengthening and broadening of Cambodia’s payment system connections with regional counterparts have bolstered trade, investment, tourism, and remittance flows. Bakong, developed in collaboration with Japanese technology company Soramitsu, offers a digital platform for users to conduct financial transactions via smartphones, bypassing the need for conventional bank accounts.

The introduction of KHQR in 2022, Cambodia’s unified QR code system for retail payments, underscores the country’s commitment to simplifying digital transactions. This system enables merchants to accept payments from various mobile applications, including Bakong, through a single QR code.

Looking ahead, NBC aims to expand its cross-border payment network further, enhancing the convenience and cost-effectiveness of remittances for migrant workers. Additionally, Cambodia is exploring partnerships with the central banks of Fiji, Rwanda, and the Solomon Islands, aiming to diversify its international transaction options beyond the US dollar. This initiative marks a significant step towards integrating Cambodia more deeply into the global financial ecosystem.

Source: Khmer Times

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Sign up for The Better Cambodia's newsletter to receive the latest articles and stories. Stay informed and inspired with our positive content!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any buzzstream.
Share This Article
Facebook Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
BySurya Narayan
Follow:
Founder at The Better Cambodia | Communication Advisor to the Minister attached to the Prime Minister of Cambodia | Marketing Director at True North Lean
Previous Article Taiwanese Company Eyes Expansion in Cambodia’s Agri-food and Automotive Industries
Next Article Cambodia’s Senior Official Attends ASEAN Meeting in Preparation for Key Diplomatic Retreat
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

- Advertisement -

You Might Also Like

News

National Bank of Cambodia Introduces “Bakong” for Streamlined Tourist Payments

By
TBC
News

Cambodia Celebrates Royal Ploughing Ceremony in Chbar Mon City: A Glorious Tradition to Herald the Crop Planting Season

By
TBC
Invest In CambodiaNews

Rising Riel circulation is good for the economy

By
Surya Narayan
News

Prime Minister Hun Manet Engages in Talks with Gumball 3000 Founder Maximillion Cooper

By
TBC
© 2025 TBC Media. All Rights Reserved.
No thanks.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

Not a member? Sign Up