In a strategic move to simplify transactions for international visitors, the National Bank of Cambodia (NBC) is set to unveil the “Bakong” digital payment system. Designed to offer a seamless cashless payment option, this initiative caters to tourists upon their entry into Cambodia.
During the bank’s mid-year review on Friday, July 19, Chea Serey, the Governor of NBC, shared insights into the forthcoming launch. Highlighting the core features of the Bakong system, Chea Serey explained, “Tourists stepping into Cambodia will soon have the luxury of downloading and utilizing the Bakong app for their financial transactions. Even without a local banking account, they have the flexibility to link their international credit cards to the app, including major providers such as VISA, Mastercard, and UnionPay.”
The introduction of the Bakong digital platform signifies a strategic shift towards enhancing the touristic experience through digital transformation. Anticipated to be as user-friendly for visitors as it is for Cambodian residents, this digital payment gateway stands as a significant step toward fostering an innovative financial landscape aimed at supporting the country’s tourism sector.
“I am optimistic that the deployment of the Bakong system specifically for tourists will efficiently solve the payment challenges faced by our international guests,” Chea Serey mentioned, echoing a forward-looking vision towards tourist facilitation.
Furthering the efforts to accommodate travelers, NBC has taken a directive from Cambodian Prime Minister Hun Manet to heart. Addressing the concerns over fees associated with the exchange of slightly damaged US dollar notes—a minor yet impactful issue for tourists—the NBC has been charged with coordinating efforts among private banks to streamline the handling of such currency.
The imperative by Prime presented a clear mission for the NBC and allied financial institutions: to abolish the exchange fees for worn or slightly marred US dollar bills. This move not only aims to mitigate inconvenience for tourists but underscores Cambodia’s commitment to improving the travel experience by focusing on even the smallest details that matter to visitors.
With the “Bakong” system’s launch and the initiative to refine currency exchange practices, Cambodia is setting a new standard in facilitating a welcoming and digitally savvy environment for international tourists.
Source: Fresh News
